Credit growth to industry slows

THE GROWTH IN bank credit toindustry moderated to 7.3% in September, compared with 8.9% in the corresponding period last year, according to Reserve Bank of India (RBI) data released on Friday.

- PRESS TRUST OF INDIA

On a year-on-year basis, nonfood bank credit grew 10.2% as on the fortnight ended September 19, compared to 13% during the corresponding fortnight of the previous year (September 20, 2024), the RBI said.

The central bank has released the data on sectoral deployment of bank credit for September collected from 41 select commercial banks, accounting for about 95% of the total nonfood credit by all banks.