Bank Credit Grows 5.52% in Fortnight Ended Aug 14: RBI Data

Growth in credit to agriculture and allied activities rose 2.4 per cent in June as compared to 8.7 per cent rise in the same month of 2019. As per the data, growth in loans to industry grew 2.2 per cent in June this year compared to 6.4 per cent growth in June 2019. Credit to large industries increased 3.7 per cent as against 7.6 per cent.

Credit to the services sector continued to grow at a robust, albeit decelerated, rate at 10.7 per cent in June 2020 vis-a-vis 13 per cent in June 2019. Personal loans continued to perform well registering a growth of 10.5 per cent in June, nearly the same as in May but lower than 16.6 per cent growth in June 2019.