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Informist, Thursday, Apr. 30, 2026

MUMBAI – Bank credit to the services sector grew 19% on year to INR 60.61 trillion as of Mar. 31, higher than the 12% growth a year ago, data released by the Reserve Bank of India Thursday showed. Overall, non-food loans rose 15.9% on year to INR 212.91 trillion for the fortnight ended Mar. 31.

Of the services sector loans, outstanding loans worth INR 20.66 trillion were given to non-bank financial companies alone. Loans to the trade sector were up 16.2% at INR 13.77 trillion. Loans extended to non-bank financial companies and the trade sector together made up over 42% of the total services sector loans.  

Personal loans extended by banks were up 16.2% on year at INR 69.41 trillion as of Mar. 31, compared with a rise of 11.7% a year ago. Credit extended to micro and small industries was up over 33% on year, while loans to medium industries rose 21.7% on year. Credit to large industries grew only 8.9% on year as of Mar. 31, but was higher than the growth of 6.9% 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 16% against 11% a year ago, with the total outstanding at INR 26.55 trillion as of Feb. 28.  End

Reported by Kabir Sharma

Edited by Tanima Banerjee

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