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Banks' non-food credit rose 12.6 per cent year-on-year in July to Rs 56,17,500 crore from Rs 49,89,400 crore in the year-ago period.

Increase in non-food credit was a tad lower than the 13 per cent growth in the previous two months, according to the Reserve Bank data.

Last July, non-food credit had increased 14.8 per cent. Bank credit to the agriculture sector rose 19.5 per cent to Rs 7,20,200 crore during the month from Rs 6,02,700 crore in the corresponding period last year. In July 2013, credit to the sector had risen 10.5 per cent.

Bank lending to the industry was much lower at 10.1 per cent to Rs 25,07,900 crore from Rs 22,77,400 crore in the year ago period. Last July, the increase in credit to industry was 15.9 per cent.

"Deceleration in credit growth was observed in infrastructure, basic metals, textiles, chemicals and food processing industries, among others," the RBI said. Services sector saw an increase of 12.3 per cent in the lending at Rs 13,17,600 crore in July as against Rs 11,73,700 crore last year same period. In July last year, the sector had seen an increase of 13.3 per cent in credit from banks.

During the month credit to NBFCs more than doubled to 11.5 per cent from 5.7 per cent in the year ago period. Personal loans growth inched down to 14.5 per cent from 17 per cent in the corresponding period last year.

 Meanwhile, the RBI's quarterly data on deposits and credit growth showed that growth rates in aggregate deposits and gross bank credit decelerated to 13.9 per cent and 13.8 per cent, respectively in March 2014 from 14.2 per cent and 15.1 per cent recorded a year ago.

"The deceleration in gross bank credit was observed across all population groups whereas deceleration in aggregate deposits was observed only in 'urban' centres," the RBI said.

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