NEWS & ADVICE : CAR LOANS
Bank credit growth goes down in the second quarter of FY 2012-13
By Vaibhav Aggarwal
Nov 1, 2012
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The banking and monetary regulator, Reserve Bank of India, has released data which shows that the non food bank advances growth has gone down in Q2 of this fiscal. The data, relating to sectoral deployment of loans by banks, shows non food bank credit at 15.9 percent as compared to 18.7 percent it was recorded at the same period last fiscal.

Credit growth including food credit was recorded at 16.3 percent for the quarter ended September, as compared to 18.9 percent where it stood a year ago.

Bank loans to industry also dipped, being recorded at 15.6 percent. Last year, for the same quarter it was recorded at 22.9 percent.

Bank advances made to services sector reduced marginally and stood at 16.5 percent as against 19.4 percent last year.

But, credit growth to agricultural sector hiked as compared to previous fiscal. It was recorded at 21.3 percent for the quarter ending September 2012. For the same period last year it was recorded at 7.9 percent.


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