Bank lending continued to rise in April as credit demand picked up across sectors barring industry.
Non-food credit rose 16.1% in April from 11.4% a year ago, according to the latest data on sectoral deployment of bank credit released by the Reserve Bank of India on Wednesday.
Credit growth to the services sector accelerated to 21.6% during the month from 11.2% a year ago primarily driven by higher lending to non-banking financial companies which rose 29% year-on-year and trade at 18%.
Retail loans rose 19.4% in April compared to 4.4% a year ago, mainly driven by ‘housing loans’ and ‘vehicle loans’, RBI said.
Source:
Economic Times
