Credit growth to farm sector slows to 10.4%: RBI data

MUMBAI: The bank credit growth to the agriculture sector slowed to 10.4% year-on-year for fortnight ended March 21, against 20% in corresponding fortnight of previous year, while advances to industry remained flat at 8%, as per RBI data. RBI has released the data on sectoral deployment of bank credit collected from 41 select commercial banks, accounting for about 95% of the total non-food credit deployed by all banks taken together. Credit growth to infrastructure decelerated. Credit to personal loan segment showed growth of 14% compared to 17.6% a year ago. Non-food bank credit grew by 12% against 16.3%.