Growth in non-food credit of commercial banks slowed to 7.7 per cent in June this year, from 13 per cent growth in June last year. Growth in non-food credit growth in May this year had stood at 9 per cent, Reserve Bank data showed.Credit to agriculture and allied activities rose 10.6 per cent in June this year, as against an increase of 18.8 per cent in Junes last year. Credit growth to industry was 4.1 per cent in June this year, against 10.2 per cent in June last year. The RBI said deceleration in credit growth to industry was observed in all major sub-sectors.Advances to the services sector increased by 6 per cent in June, compared to an increase of 13.6 per cent in the same month last year.
News On AIR | August 2, 2015 1:43 PM
Growth in non-food credit of commercial banks slows to 7.7 % in June