Credit to industry grows 19.5% in April

Growth in credit disbursement to industry grew by 19.5 per cent and to agriculture rose by 14.6 per cent in April this year, according to RBI.

“Credit to industry increased by 19.5 per cent in April 2012 as compared with 25.9 per cent in April 2011,” RBI data on sectoral deployment of credit said.

The outstanding credit to the industry in April was at Rs 19,560.70 billion, the data showed. Credit growth to the industry in April 2012 was led by infrastructure, metals and metal products, engineering, food processing, gems and jewellery, vehicles, vehicle parts, transport equipment and mining and quarrying.

The credit to agriculture increased by 14.6 per cent in April, up from 12 per cent a year earlier. The total credit outstanding to the sector was Rs 5,186.2 billion over the month.

Credit to the services sector increased by 15.8 per cent in April 2012, lower than 24.1 per cent in April 2011.

Non-food bank credit rose by 16.5 per cent compared with 22.1 per cent a year ago, and credit to NBFCs grew by 36.2 per cent in April 2012, down from 55.7 per cent in April 2011.