Monday, October 28, 2013




Sep 2013 Gross Bank Credit grows at 17.9%

On a year-on-year basis, gross bank credit increased by 17.9% in September 2013 as compared to 16.8% in August 2013. Food credit increased by 6.3% in September 2013 as compared with 5.2% in August 2013 and non-food bank credit increased by 18.2% in September 2013 as compared to 17% in August 2013.

The credit to NBFCs increased by 26.6% in September 2013 as compared with 18% in August 2013. The credit to agriculture increased by 13.2% in September 2013 as against 12.1% in August 2013.

The gross bank credit stands at Rs. 52,969 billion as on September 2013 as compared to Rs.49, 642 billion as on September 2012.

  Monthly trend in growth of gross bank credit (%)                                                                                 (YoY)
Source: PHD Research Bureau, compiled from RBI

Credit to industry increased by 17.6% in September 2013 as compared to 17.3% in August 2013. The acceleration in credit growth to industry in the month of September 2013 was observed in all the major sub-sectors, barring engineering, construction, glass and glassware and mining and quarrying.

The services sector credit increased by 22.1% in September 2013 as compared with 18.4% in August 2013. Personal loans increased by 17.9% in September 2013 as compared with 17.8% in August 2013. Growth in the components of personal loans in September 2013 stood at housing (20%), advances against fixed deposits (17.6%), advances to individuals against shares, bonds, etc. (18.3%), education (8.7%) and vehicle loans (23.1%).

  Deployment of Gross Bank Credit by major sectors                                                                                          (Rs. Billion)
Sector
August 2013*
September 2013**
August 2013^
(Y-O-Y growth)
September 2013^^
(Y-O-Y growth)
(%)
(%)
Gross Bank Credit
51991
52969
16.8
17.9
Food Credit
979
949
5.2
6.3
Non-food Credit
51012
52020
17.0
18.2
Agriculture & Allied Activities
6097
6100
12.1
13.2
Industry (Micro & Small, Medium and Large )
23301
23715
17.3
17.6
Services
12050
12553
18.4
22.1
Personal Loans
9564
9653
17.8
17.9
Priority Sector
16326
16445
16.6
17.6
Source: PHD Research Bureau, compiled from RBI
Note: Data are provisional and are collected on a monthly basis from select 47 scheduled commercial banks accounting for  about 95% of the
 total non-food credit deployed by all scheduled commercial banks;
  * Data pertains as on August 23, 2013, ** Data pertains as on September 20, 2013, ^Data pertains as on August 23, 2013 over August 24, 2012
^^ Data pertains as on September 20, 2013 over September 21, 2012


Warm regards,

Dr. S P Sharma
Chief Economist

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