Sectoral credit data from the Reserve Bank of India (RBI) shows that the growth in personal loans has slowed to 12.3% y-o-y in December from 13.4% y-o-y growth posted in November. Since April, 2011, when loans to this category had increased by over 18% y-o-y, the increase has been smaller with each passing month. Loans to non-banking finance companies (NBFCs), too, have seen some moderation at 36.2% year-on-year in December, compared with 39.2% y-o-y in November. Loans disbursed to industries and services have seen a degrowth month on month. Bank credit to industries declined to 19.8% y-o-y in December from 20.9% y-o-y in November, while lending to the services sector in December was at 14.9%, compared with 16.9% in November, shows the data released RBI on Tuesday.
Source: Financial Express
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