Bank Lending
Bank credit to services sector up 16.3% YoY as of Feb 28, personal loans up 15.2%
This story was originally published at 18:24 IST on 30 March 2026
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MUMBAI – Bank credit to the services sector grew 16.3% on year to INR 58.08 trillion as of Feb. 28, higher than the 11.7% growth a year ago, data released by the Reserve Bank of India Friday showed. Overall, non-food loans rose 14.3% on year to INR 206.71 trillion for the fortnight ended Feb. 28.
Of the services sector loans, outstanding loans worth INR 19.48 trillion were given to non-bank financial companies alone. Loans to the trade sector were up 14.4% at INR 13.21 trillion. Loans extended to non-bank financial companies and the trade sector together made up over 56% of the total services sector loans.
Personal loans extended by banks were up 15.2% on year at INR 67.97 trillion as of Feb. 28, compared with a rise of 11.7% a year ago. Credit extended to micro and small industries was up over 30% on year, while loans to medium industries rose to 21% on year. Credit to large industries grew only 7.8% on year as of Feb. 28, but was higher than the growth of 5.6% a year ago.
"The buoyant growth is majorly driven by higher growth in 'infrastructure', 'all engineering', 'chemicals and chemical products', 'petroleum, coal products and nuclear fuels' and 'textiles'," the RBI said.
Lending to agriculture and allied activities grew 12.3% against 11.4% a year ago, with the total outstanding at INR 25.43 trillion as of Feb. 28. End.
Reported by Janwee Prajapati
Edited by Tanima Banerjee
US$1 = INR 94.83
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