<p>Non-food bank credit growth slowed to 7.6 per cent in March this year as compared to an increase of 12.3 per cent in the year-ago month, due to a sharp decline in advances given by banks to industries and the services sector, according to the RBI data.</p>.<p>Banks' non-food credit stood at Rs 92.85 lakh crore in March 2020 as against Rs 86.33 lakh crore a year ago.</p>.<p>In February this year, non-food bank credit growth had decelerated to 7.3 per cent in February 2020 from 13.2 per cent in the year-ago month.</p>.<p>Loan growth to the services sector decelerated sharply to 8.5 per cent in March 2020 from 17.8 per cent in March 2019.</p>.<p>Credit growth to non-banking financial companies (NBFCs) slowed to 27.7 per cent from 29.2 per cent in March 2019, the RBI data showed.</p>.<p>Growth in advances to industry decelerated to 1.4 per cent in March 2020 from a rise of 6.9 per cent in March 2019, the data showed.</p>.<p>Within the industry, credit growth to beverage and tobacco, mining and quarrying, petroleum, coal product and nuclear fuels, cement and cement products and vehicles, vehicle parts and transport equipment accelerated.</p>.<p>However, credit growth to chemical and chemical products, all engineering, glass and glassware, gems and jewellery and infrastructure decelerated or contracted.</p>.<p>Growth in advances to agriculture and allied activities decelerated to 5.2 per cent in March 2020 from 7.9 per cent in March 2019.</p>.<p>Personal loans growth fell marginally to 15.7 per cent in March 2020 from 16.4 per cent in March 2019, the data showed.</p>
<p>Non-food bank credit growth slowed to 7.6 per cent in March this year as compared to an increase of 12.3 per cent in the year-ago month, due to a sharp decline in advances given by banks to industries and the services sector, according to the RBI data.</p>.<p>Banks' non-food credit stood at Rs 92.85 lakh crore in March 2020 as against Rs 86.33 lakh crore a year ago.</p>.<p>In February this year, non-food bank credit growth had decelerated to 7.3 per cent in February 2020 from 13.2 per cent in the year-ago month.</p>.<p>Loan growth to the services sector decelerated sharply to 8.5 per cent in March 2020 from 17.8 per cent in March 2019.</p>.<p>Credit growth to non-banking financial companies (NBFCs) slowed to 27.7 per cent from 29.2 per cent in March 2019, the RBI data showed.</p>.<p>Growth in advances to industry decelerated to 1.4 per cent in March 2020 from a rise of 6.9 per cent in March 2019, the data showed.</p>.<p>Within the industry, credit growth to beverage and tobacco, mining and quarrying, petroleum, coal product and nuclear fuels, cement and cement products and vehicles, vehicle parts and transport equipment accelerated.</p>.<p>However, credit growth to chemical and chemical products, all engineering, glass and glassware, gems and jewellery and infrastructure decelerated or contracted.</p>.<p>Growth in advances to agriculture and allied activities decelerated to 5.2 per cent in March 2020 from 7.9 per cent in March 2019.</p>.<p>Personal loans growth fell marginally to 15.7 per cent in March 2020 from 16.4 per cent in March 2019, the data showed.</p>