Bank loans to services sector up 20.4% on yr as of May 31, gold loans double
This story was originally published at 20:47 IST on 30 June 2026
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MUMBAI – Bank credit to the services sector grew 20.4% on year to INR 60.45 trillion as of May 31, according to data released by the Reserve Bank of India Tuesday. Overall, non-food bank credit rose 17.4% on year to INR 213.79 trillion as of May 31.
Loans against gold jewellery saw the biggest jump, rising 106% on year to INR 5.14 trillion at the end of May. Personal loans rose 15.4% on year to INR 70.15 trillion as of May 31. Within the personal loans segment, vehicle and education loans also saw a healthy rise of 17.3% and 14.0%, respectively.
Of the services sector loans, outstanding loans worth INR 20.88 trillion were given to non-banking financial companies, up 33.7% from a year ago. Loans to the trade sector rose 17.3% at INR 13.62 trillion.
Credit extended to micro and small enterprises was up over 26.2% on year, while loans to medium-sized industries rose 21.2% on year. Lending to agriculture and allied activities grew 14.9% to INR 26.41 trillion as of May 31. End
Reported by Meera Nair
Edited by Saji George Titus
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