Bk credit to svcs sector up 15.5% YoY as of Jan 31, personal loans up 14.9%
This story was originally published at 18:53 IST on 27 February 2026
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NEW DELHI – Bank credit to the services sector grew 15.5% on year to INR 57.23 trillion as of Jan. 31, higher than the growth of 12.3% a year ago, data released by the Reserve Bank of India Friday showed. Overall, non-food loans rose 14.4% on year in the fortnight ended Jan. 31 compared with 11.3% in the Jan. 24, 2025, fortnight, which is the base with which the RBI has calculated the year-ago data.
Of the services sector loans, outstanding loans worth INR 19.05 trillion were to non-bank financial companies alone, making up nearly a third of the lending. Loans to the shipping sector zoomed 45% on year on a low base, making it the fastest growing sector among the services sector. Meanwhile, personal loans extended by banks were up 14.9% on year at INR 67.23 trillion as of Jan. 31, compared with a rise of 11.9% a year ago.
"While segments such as 'vehicle loans' and 'loans against gold jewellery' recorded accelerated credit growth, 'housing' witnessed steady growth," the RBI said in the release. "The growth in 'credit card outstanding' significantly moderated compared to a year ago."
Loan growth to the industrial sector accelerated to 12.1% on year as of Jan. 31 compared with a rise of 8.3% a year ago, the RBI data showed. Credit extended to micro and small industries was up 31.2% on year while loans to medium industries rose over 22% on year.
However, credit to large industries grew only 5.5% on year as of Jan. 31, down from 6.8% a year ago. Credit growth to agriculture and allied activities fell to 11.4% at January-end from 12.2% a year ago, with the total outstanding at INR 25.10 trillion as of Dec. 31. End
Reported by Aaryan Khanna
Edited by Akul Nishant Akhoury
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