Credit to industry rises 7.3% as on fortnight ended Feb 21: RBI data – CNBC TV18

Credit to industry expanded by 7.3% within the fortnight ended on February 21, 2025, in contrast with 8.4% within the yr-in the past interval, in accordance to Reserve Financial institution data launched on Thursday.

Amongst main industries, excellent credit score to ‘petroleum, coal merchandise and nuclear fuels’, ‘all engineering’, ‘development’, and ‘paper & paper merchandise’ recorded an accelerated y-o-y development, it stated.

Credit to agriculture and allied actions registered a development of 11.4% (y-o-y) as on the fortnight ended February 21, 2025 (20% for the corresponding fortnight of the earlier yr).

RBI launched the data on sectoral deployment of financial institution credit score for February 2025 collected from 41 choose banks, accounting for about 95% of the overall non-meals credit score deployed by all scheduled business banks.

On a year-on-year (y-o-y) foundation, non-meals financial institution credit score as on the fortnight ended February 21, 2025, grew at 12% as in contrast to 16.6% for the corresponding fortnight of the earlier yr (February 23, 2024).

The data additionally confirmed that credit score to providers sector recorded a development of 13% (y-o-y) as on the fortnight ended February 21, 2025 (21.4% for the corresponding fortnight of the earlier yr), with a decelerated development in credit score to ‘non-banking monetary firms’ (NBFCs).

Nevertheless, credit score development to ‘pc software program’ accelerated and credit score development remained sturdy in ‘skilled providers’ and ‘commerce’ segments.

Credit to private loans section registered a development of 14% as in contrast with 18% a yr in the past, largely due to decline in development fee in ‘different private loans’, ‘bank card excellent’ and ‘automobile loans’ segments.