{"id":10956,"date":"2020-07-31T17:20:17","date_gmt":"2020-07-31T17:20:17","guid":{"rendered":"https:\/\/bengalnewstimes.com\/?p=10956"},"modified":"2020-07-31T17:20:17","modified_gmt":"2020-07-31T17:20:17","slug":"non-food-credit-growth-slows-to-6-7-in-june","status":"publish","type":"post","link":"https:\/\/bengalnewstimes.com\/?p=10956","title":{"rendered":"Non-food credit growth slows to 6.7% in June"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"article-image\">\n<figure><img loading=\"lazy\" decoding=\"async\" class=\"lazy lazy-hidden wp-image-1982751 size-full\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/06\/cash.jpg\" alt=\"\" width=\"660\" height=\"440\" srcset=\"\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"lazy lazy-hidden wp-image-1982751 size-full\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/06\/cash.jpg\" alt=\"\" width=\"660\" height=\"440\" srcset=\"\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-1982751 size-full\" src=\"https:\/\/images.financialexpress.com\/2020\/06\/cash.jpg\" alt=\"\" width=\"660\" height=\"440\" srcset=\"https:\/\/images.financialexpress.com\/2020\/06\/cash.jpg 660w, https:\/\/images.financialexpress.com\/2020\/06\/cash-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2020\/06\/cash-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2020\/06\/cash-401x267.jpg 401w, https:\/\/images.financialexpress.com\/2020\/06\/cash-440x293.jpg 440w, https:\/\/images.financialexpress.com\/2020\/06\/cash-80x54.jpg 80w, https:\/\/images.financialexpress.com\/2020\/06\/cash-313x209.jpg 313w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><\/noscript><\/noscript><span class=\"article-caption\">Credit growth to industry grew by 2.2 per cent in the month, as compared to 6.4 per cent growth in June 2019.<\/span><\/figure>\n<\/div>\n<p>Non-food credit growth of banks slowed to 6.7 per cent in June, as against a growth of 11.1 per cent in the same month previous year, according to the Reserve Bank of India.\u00a0The loan growth in June 2020 was nearly the same as in May.<\/p>\n<p>Personal loans continued to perform well, registering a growth of 10.5 per cent in June 2020, almost similar to May 2020 but lower than 16.6 per cent growth in June 2019, <a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/tag\/rbi\/\" rel=\"noopener noreferrer\">RBI<\/a>\u2019s Sectoral Deployment of Bank Credit for June 2020 showed.<\/p>\n<p>Vehicle loan registered an accelerated growth in June 2020 as against its level in the previous month and the corresponding period last year. Housing loans have also continued to perform well.<\/p>\n<p>Credit growth to industry grew by 2.2 per cent in the month, as compared to 6.4 per cent growth in June 2019. Advances to large industries increased by 3.7 per cent in June 2020, over 7.6 per cent in the same period previous year.<\/p>\n<p>Within industry, credit growth to food processing, beverage &amp; tobacco, petroleum, coal products &amp; nuclear fuels, and paper &amp; paper products accelerated in June, compared to the corresponding month a year ago.\u00a0Loan growth to infrastructure has also picked up in June vis-a-vis its level in the previous month, though it is much lower than in June 2019.<\/p>\n<p>\u201cHowever, credit growth to chemicals &amp; chemical products, cement &amp; cement products, construction, gems &amp; jewellery, glass &amp; glassware and all engineering decelerated\/contracted,\u201d the RBI said.\u00a0Credit growth to agriculture and allied activities increased by 2.4 per cent in June 2020 as compared to a higher growth of 8.7 per cent.<\/p>\n<p>Advances to the services sector continued to grow at a robust, albeit decelerated, rate at 10.7 per cent in June 2020, compared to 13 per cent last year, it said.\u00a0Credit to commercial real estate and computer software has bucked the downtrend, registering accelerated growth as against the same month previous year.\u00a0Loans to NBFCs have also continued to grow at a healthy pace, it showed.<\/p>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/s-p-bse-sensex-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">BSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nifty-50-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">NSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/investing-abroad\/\" target=\"_blank\" rel=\"noopener noreferrer\">US Market<\/a> and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mutual Funds<\/a>, calculate your tax by <a href=\"https:\/\/www.financialexpress.com\/income-tax-calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax Calculator<\/a>, know market\u2019s <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-gainers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Gainers<\/a>, <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-losers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Losers<\/a> &amp; <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/equity-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\">Best Equity Funds<\/a>. Like us on <a href=\"https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\"https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<p class=\"telegram-text\"><img loading=\"lazy\" decoding=\"async\" class=\"telegrma_img\" src=\"https:\/\/images.financialexpress.com\/2020\/04\/telegram.png\" alt=\"\" width=\"24\" height=\"24\" style=\"margin: 0px 5px 4px 0px; float: left;\"\/>Financial Express is now on Telegram. <a href=\"https:\/\/t.me\/TheFinancialExpressOnline\" target=\"_blank\" rel=\"noopener noreferrer\">Click here to join our channel<\/a> and stay updated with the latest Biz news and updates.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\\\"https:\/\/www.financialexpress.com\/industry\/banking-finance\/non-food-credit-growth-slows-to-6-7-in-june\/2041526\/\\\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Credit growth to industry grew by 2.2 per cent in the month, as compared to 6.4 per cent growth in June 2019. Non-food credit growth of banks slowed to 6.7 per cent in June, as against a growth of 11.1 per cent in the same month previous year, according to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10957,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[36],"tags":[],"class_list":["post-10956","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-business"],"jetpack_featured_media_url":"https:\/\/bengalnewstimes.com\/wp-content\/uploads\/2020\/07\/cash.jpg","_links":{"self":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/10956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10956"}],"version-history":[{"count":0,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/10956\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/media\/10957"}],"wp:attachment":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}