even if there are small sized loans accounting for the big shares in bank loan Portfolio, big businesses grew it Reliance According to sectoral deployment data on bank credit, bank credit grew by 7.9 per cent in September as compared to a decrease of 2.1 per cent in the same period last year. reserve Bank of India,

On a year-on-year basis, non-food bank credit grew by 16.9 per cent in September 2022 as against 6.8 per cent a year ago.

Size-wise, loans to large businesses increased to 7.9 per cent against a contraction of 2.1 per cent a year ago. Medium industries registered a credit growth of 36.2 per cent in September 2022 as compared to 37.1 per cent last year, while credit to micro and small industries grew by 27.1 per cent (13.1 per cent a year ago). Total credit to industry grew by 12.6 per cent in September 2022 compared to 1.7 per cent in September 2021, RBI data indicated. Credit to industry accounted for 26 per cent of gross bank credit at the end of September.

Within industry, ‘all engineering’, ‘basic metals and metal products’, ‘beverage and tobacco’, ‘cement and cement products’, ‘chemical and chemical products’, ‘construction’, ‘food processing’, ‘glass’ Credit growth and glassware’, ‘infrastructure’, ‘leather and leather products’, ‘petroleum, coal products and nuclear fuel’, ‘rubber, plastics and their products’, ‘vehicles, vehicle parts and transport equipment’ ‘, and ‘wood and wood products’ ‘ accelerated in September 2022 compared to the same month of the previous year. However, credit growth to ‘gems and jewellery’, ‘mining and quarrying’, ‘paper and paper products’ and ‘textiles’ declined.

The RBI said in a release that retail loans accounted for 29 per cent of gross bank credit at the end of September (13.2 per cent a year ago), largely driven by the ‘housing’ and ‘vehicle loans’ segments. Retail loans accounted for 26 per cent of gross bank credit at the end of September

Credit growth in the services sector accelerated to 20.0 per cent in September 2022 from 1.2 per cent a year ago, mainly driven by better credit offtake in the ‘NBFC’ and ‘business’ sectors.

Credit to agriculture and allied activities continued to perform well, registering an accelerated growth of 13.4 per cent (y-o-y) in September 2022 as compared to 10.6 per cent in September 2021.

Data on sectoral deployment of bank credit for the month of September 20221 was collected from 40 selected scheduled commercial banks, which is about 93 per cent of the total non-food credit deployed by all scheduled commercial banks.