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Personal loans, including housing, advances to individuals against shares and credit cards, showed a robust year-on-year growth in November even as the overall non-food credit growth, comprising loans to agriculture, industry and services, decelerated.
Personal loans increased 18 per cent in November 2015, up from 15.8 per cent in November 2014, according to RBI data on deployment of bank credit.
Under the personal loans category, housing loans showed a year-on-year growth of 18.6 per cent (16.5 per cent in November 2014), advances to individuals against shares were up by 78.3 per cent (36.3 per cent), and outstanding against credit cards increased 27.7 per cent (22.1 per cent).
Credit to agriculture and allied activities rose 11.8 per cent in November compared with 19.7 per cent a year ago.
Credit to industry increased 5 per cent in November (7.3 per cent in November 2014). Deceleration in credit growth to industry was observed in all major sub-sectors, barring chemical and chemical products and basic metal and metal products.
Credit to the services sector increased 6.8 per cent against 7.9 per cent in November 2014.
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