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Non-food financial institution credit score grew at 5.7 per cent in January 2021 as in opposition to a rise of 8.5 per cent in January 2020, RBI information confirmed.
Persevering with its uptrend, credit score progress to agriculture and allied actions accelerated to 9.9 per cent in January 2021 from 6.5 per cent within the year-ago month, the information on Sectoral Deployment of Financial institution Credit score January 2021, launched by the Reserve Financial institution of India, confirmed.
Loans to business contracted by 1.3 per cent within the reporting month as in comparison with 2.5 per cent progress final yr in the identical interval primarily attributable to contraction in credit score to massive industries, the information confirmed.
Advances to medium industries registered a sturdy progress of 19.1 per cent in January 2021 as in comparison with 2.8 per cent a yr in the past and credit score to micro and small industries registered a progress of 0.9 per cent as in comparison with 0.5 per cent a yr in the past.
Credit score progress to the companies sector decelerated reasonably to eight.4 per cent in January 2021 from 8.9 per cent in January 2020.
Nevertheless, credit score to move operators and commerce continued to carry out nicely in the course of the month, registering accelerated progress.
Private loans progress decelerated to 9.1 per cent in January 2021 from 16.9 per cent in January 2020.
(Solely the headline and movie of this report could have been reworked by the Enterprise Commonplace employees; the remainder of the content material is auto-generated from a syndicated feed.)