Non-Food Bank Credit Growth Slid In May 2021: RBI Data

Non-food bank credit growth decelerated and stood at 5.9 per cent in May 2021 as compared to 6.1 per cent in May 2020, as per RBI data.

Non-food bank credit growth decelerated and stood at 5.9 per cent in May 2021 as compared to 6.1 per cent in May 2020, according to data released by the Reserve Bank of India (RBI) on Wednesday. Non-food credit consists of a major portion of bank credit. It comprises of credit to various sectors of the economy like agriculture, industry, personal loans and services among others. Meanwhile, as per data released by the central bank, credit to agriculture and allied activities registered an accelerated growth of 10.3 per cent in May 2021 as compared to 5.2 per cent in May 2020. At the same time though, credit growth to industry decelerated to 0.8 per cent in May 2021 from 1.7 per cent in May 2020.