RBI · Macro Data
RBI data shows bank credit growth surged to 17.4% in May
All major lending segments posted double-digit growth, with industry and services the fastest.
What changed
- Non-food bank credit growth rose to 17.4% from 8.8% a year ago.
- Industry credit surged 17.5%, led by infrastructure and textiles.
- Services credit jumped 20.4% on NBFC and real estate demand.
The read
Bank credit accelerated. Non-food lending grew 17.4% year-on-year in May, more than doubling the 8.8% pace from a year ago, with every major segment posting double-digit expansion. Agriculture rose 14.9%, industry 17.5%, services 20.4%, and personal loans 15.4%. Within industry, large firms drove the uptick, supported by infrastructure, engineering, and textiles. Services were powered by NBFCs and commercial real estate. The only weak spots were rubber and wood products. This is a broad-based recovery, with demand spreading beyond retail into productive sectors.
Key numbers
- Non-food credit growth: 17.4%
- Industry credit growth: 17.5%
- Services credit growth: 20.4%
- Personal loans growth: 15.4%
Primary source: rbi.org.in