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Sectoral Deployment of Bank Credit - August 2023- (Reserve Bank of India) (28 Sep 2023)



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.

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.

Highlights of the sectoral deployment of bank credit3 are given below:

• 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.

• 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.

• 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'.

• 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.


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