Non-food credit growth of banks stood at 6% in November compared with 7.2% a year earlier, RBI data showed.
Reversing the downtrend, credit growth to agriculture and allied activities accelerated to 8.5% in November 2020 from 6.5% in November 2019, the data on Sectoral Deployment of Bank Credit — November 2020, released by the Reserve Bank, showed.
Advances to industry contracted marginally 0.7% compared with the 2.4% growth. This was mainly due to contraction in credit to large industries by 1.8% in November 2020 (versus a 3% growth a year earlier), though credit to medium industries registered a robust 20.9% growth vis-a-vis a contraction of 2.4%, the RBI said. Personal loans rose 10% compared with 16.4%. Within this, vehicle loans registered growth of 10% vis-a-vis a growth of 4.7%.
You have reached your limit for free articles this month.
Subscription Benefits Include
Today's Paper
Find mobile-friendly version of articles from the day's newspaper in one easy-to-read list.
Unlimited Access
Enjoy reading as many articles as you wish without any limitations.
Personalised recommendations
A select list of articles that match your interests and tastes.
Faster pages
Move smoothly between articles as our pages load instantly.
Dashboard
A one-stop-shop for seeing the latest updates, and managing your preferences.
Briefing
We brief you on the latest and most important developments, three times a day.
Support Quality Journalism.
*Our Digital Subscription plans do not currently include the e-paper, crossword and print.
A letter from the Editor
Dear reader,
We have been keeping you up-to-date with information on the developments in India and the world that have a bearing on our health and wellbeing, our lives and livelihoods, during these difficult times. To enable wide dissemination of news that is in public interest, we have increased the number of articles that can be read free, and extended free trial periods. However, we have a request for those who can afford to subscribe: please do. As we fight disinformation and misinformation, and keep apace with the happenings, we need to commit greater resources to news gathering operations. We promise to deliver quality journalism that stays away from vested interest and political propaganda.
Support Quality Journalism
A letter from the Editor
Dear subscriber,
Thank you!
Your support for our journalism is invaluable. It’s a support for truth and fairness in journalism. It has helped us keep apace with events and happenings.
The Hindu has always stood for journalism that is in the public interest. At this difficult time, it becomes even more important that we have access to information that has a bearing on our health and well-being, our lives, and livelihoods. As a subscriber, you are not only a beneficiary of our work but also its enabler.
We also reiterate here the promise that our team of reporters, copy editors, fact-checkers, designers, and photographers will deliver quality journalism that stays away from vested interest and political propaganda.
Suresh Nambath
