Bank loans to services sector up 18.6% as of Apr 30, personal loans up 16%
This story was originally published at 19:26 IST on 29 May 2026
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MUMBAI – Bank credit to the services sector grew 18.6% on year to INR 59.55 trillion as of Apr. 30, higher than the 10% growth recorded a year ago, according to data released by the Reserve Bank of India Friday. Overall, non-food loans rose 15.8% on year to INR 211.08 trillion as of Apr. 30.
Of the services sector loans, outstanding loans worth INR 20.56 trillion were given to non-banking financial companies. Loans to the trade sector were up over 13% at INR 13.17 trillion. Loans extended to non-bank lenders and the trade sector together made up nearly 57% of the total services sector loans.
Personal loans extended by the banks were up 16% on year at INR 69.60 trillion as of Apr. 30, compared with a rise of nearly 12% a year ago. Segments such as vehicle loans and housing loans sustained robust credit growth while credit card outstanding moderated, the RBI said in the release. Loans against gold jewellery jumped 121% on year to INR 4.89 trillion at the end of April.
Credit extended to micro and small industries was up over 30% on year while loans to medium-sized industries rose nearly 20% on year. Credit to large industries grew only 10% on year as of Apr. 30, but was higher than the growth of 5% a year ago.
Lending to agriculture and allied activities grew nearly 14% against 9.2% a year ago, with the total outstanding at INR 26.26 trillion as of Apr. 30. End
Reported by J. Navya Sruthi
Edited by Himanshi Gupta
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