Non-food bank credit grew 9.7% in March: RBI data

Growth in the credit to services sector accelerated to 8.9 per cent in the reporting month as compared to 3 per cent in the year-ago period, mainly due to significant improvement in credit growth to NBFCs (Non-Banking Financial Companies) and robust credit offtake in trade and transport operators. Personal loans segment continued to expand at a robust rate and grew by 12.4 per cent in March 2022 from 10.7 per cent in March 2021.

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