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<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns="http://www.w3.org/1999/xhtml"> <head> </head> <body> <div style="font-family:Verdana, Geneva, sans-serif; font-size:12px; text-align:justify"> <table width="800" border="0" style="border:1px solid #ccc;padding:5px;" align="center" cellpadding="6" cellspacing="0"> <tr> <td align="left" valign="top"> <br /> Reserve Bank of India <br /><br /> Sectoral Deployment of Bank Credit - August 2023<br /><br /> MANU/RPRL/0576/2023 - (28 Sep 2023)<br /><br /> </td> </tr> <tr> <td align="left" valign="top"></td> </tr> <tr> <td align="left" valign="top" style="background-color:#FDEDCE"><strong>Data on sectoral deployment of bank credit for the month of August 20231 collected from 40 select scheduled commercial banks, accounting for about 93 per cent of the total non-food credit deployed by all scheduled commercial banks, are set out in Statements I and II. <br><br> On a year-on-year (y-o-y) basis, non-food bank credit2 registered a growth of 15.0 per cent in August 20233 as compared with 16.0 per cent a year ago. <br><br> Highlights of the sectoral deployment of bank credit3 are given below: <br><br> • Credit growth to agriculture and allied activities improved to 16.6 per cent (y-o-y) in August 2023 from 13.4 per cent a year ago. <br><br> • Credit to industry registered a growth of 6.1 per cent (y-o-y) in August 2023 as compared with 11.4 per cent in August 2022. Among major industries, credit growth (y-o-y) to 'basic metal & metal products' and 'textiles' accelerated in August 2023 as compared with the corresponding month of the previous year, while that to 'chemicals & chemical products', 'food processing' and 'infrastructure' decelerated. <br><br> • Credit growth to services sector accelerated to 20.7 per cent (y-o-y) in August 2023 from 17.4 per cent a year ago, primarily due to 'Non-Banking Financial Companies (NBFCs)' and 'commercial real estate'. <br><br> • Personal loans growth decelerated to 18.3 per cent (y-o-y) in August 2023 (19.4 per cent a year ago), due to moderation in credit to housing.</strong></td> </tr> <tr> <td align="left" valign="top" ><strong></strong></td> </tr> <tr> <td align="left" valign="top" ><strong>Tags : Sectoral Deployment, Bank Credit, Highlights</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <!--<td><strong>Source : <a target="_new" href="http://www.manupatrafast.com/">newsroom.manupatra.com</a></strong></td>--> <td align="left" valign="top"><strong>Source : newsroom.manupatra.com</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <td align="left" valign="top">Regards</td> </tr> <tr> <td align="left" valign="top">Team Manupatra</td> </tr> <tr> <td align="left" valign="top"> </td> </tr> </table> </div> </body> </html>