 "Credit to industry grows by 19.5% in April")
Mumbai: The growth in credit disbursement to industry grew by 19.5 percent and to agriculture rose by 14.6 percent in April this year, according to Reserve Bank of India.
“Credit to industry increased by 19.5 percent in April 2012 as compared with 25.9 percent in April 2011,” RBI data on sectoral deployment of credit said.[caption id=“attachment_328092” align=“alignleft” width=“380” caption=“Logo of Reserve Bank of India. Reuters”]
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The outstanding credit to the industry in April was at Rs 19,56,070 crore, the data showed.
Credit growth to the industry in April 2012 was led by infrastructure, metals and metal products, engineering, food processing, gems and jewellery, vehicles, vehicle parts and transport equipment and mining and quarrying.
The credit to agriculture increased by 14.6 percent in April, up from 12 percent a year earlier. The total credit outstanding to the sector was Rs 5,18,620 over the month.
Credit to the services sector increased by 15.8 percent in April 2012, significantly lower than 24.1 percent in April 2011, RBI said.
The non-food bank credit increased by 16.5 percent compared with 22.1 percent a year ago, and credit to non-banking financial companies (NBFCs) grew by 36.2 percent in April 2012, down from 55.7 percent in April 2011.
Meanwhile, credit to the commercial real estate sector increased by 5.8 percent, down from 21.9 percent a year earlier.
Personal loans increased by 11.5 percent in April 2012 compared with 18.4 percent in April 2011, the data showed.
PTI