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Informist, Friday, Jul. 31, 2026

MUMBAI –  Bank credit to the services sector grew 21.4% on year in the fortnight ended Jul. 11, according to data released by the Reserve Bank of India. Overall, non-food bank credit rose 18.3% on year during the fortnight.

Personal loans rose 15.8% on year in the reporting fortnight. Within the segment, vehicle loans and housing loans continued to record steady double-digit growth while credit card outstanding registered a slower pace of growth.

Among services, credit to non-banking financial companies led the growth along with commercial real estate and trade, supporting the sector's robust expansion.

Credit to industry grew 19.2% on year, compared with 6.3% in the corresponding fortnight of the previous year. Lending to micro and small, medium, and large industries expanded broadly. Among major industries, credit to infrastructure, engineering, food processing, textile, construction, metal and metal products, petroleum, coal products, nuclear fuels, and chemical and chemical products industries recorded strong year-on-year growth. However, lending to industries in the rubber, plastic and plastic products, and wood and wood products segments witnessed marginally slower growth.

Credit to agriculture and allied activities grew 16.8% on year, compared with 6.8% in the corresponding fortnight last year.  End

Reported by Meera Nair

Edited by Rajeev Pai

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