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Feb 2013 Gross Bank Credit Grows at 14.6%
 
On a year-on-year basis, gross bank credit increased by 14.6% in February 2013 as compared with 15.7% in February 2012. Food credit increased by 24.3% in February 2013 as compared with 34.2% increase in February 2012 and non-food bank credit increased by 14.4% in February 2013 as compared 15.4% increase in February 2012.
 
The credit to NBFCs increased by 16.6% in February 2013 as compared with the increase of 30.9% in February 2012. The credit to agriculture increased by 18.4% in February 2013, up from 8% in the corresponding period of last year.
 
Cumulatively, the gross bank credit has grown from around Rs430360 billion during April-Feb 2011-12 to about Rs500642 billion during April - Feb 2012-13 with a growth of 16.3%.
 
 
  Monthly trend in growth of gross bank credit (%)                                                    (YoY)
Source: PHD Research Bureau, compiled from RBI
 
 
Credit to industry increased by 14.7% in February 2013 as compared with the increase of 19.1% in February 2012. The deceleration in credit growth to industry was observed in all the major sub-sectors, barring beverage and tobacco, leather and leather products, wood and wood products, petroleum, coal products and nuclear fuels, cement and cement products, chemicals and chemical products and infrastructure.
 
The services sector credit disbursement increased by 12.7% in February 2013 as compared with an increase of 14.7% in February 2012. Personal loans increased by 13.5% in February 2013 as compared with the increase of 12.2% during the corresponding period of the previous year. Growth in the components of personal loans stood at housing (13.5%), advances against fixed deposits (8.3%), advances to individuals against shares, bonds, etc. (-7.7%) , education (9.5%)and vehicle loans (20.9%).
 
  Deployment of Gross Bank Credit by major sectors                                                                          (Rs. Billion)
Sector
February, 2012*
February, 2013**
February  2012^ over February  , 2011
February , 2013^^ over February  2012
(%)
(%)
Gross Bank Credit
41797
47911
15.7
14.6
Food Credit
847
1053
34.2
24.3
Non-food Credit
40950
46858
15.4
14.4
Agriculture & Allied Activities
4733
5603
8.0
18.4
Industry (Micro & Small, Medium and Large )
18819
21592
19.1
14.7
Services
9727
10957
14.7
12.7
Personal Loans
7671
8706
12.2
13.5
Priority Sector
13151
15071
10.6
14.6
Source: PHD Research Bureau, compiled from RBI
Note: Data are provisional and are collected on a monthly basis from select 47 scheduled commercial banks accounting for
 about 95% of the total non-food credit deployed by all scheduled commercial banks;
  * Data pertains as on Feb 24, 2012, ** Data pertains as on Feb 22, 2013, ^Data pertains as on Feb 24, 2012 over Feb 25, 2011
^^ Data pertains as on Feb 22, 2013 over Feb 24, 2012
 
 
Warm regards,
 
Dr. S P Sharma
Chief Economist
________________________________________________
PHD Research Bureau
PHD Chamber of Commerce and Industry
August Kranti Marg, New Delhi – 110016
Tel 91 11 49545454, Fax 91 11 26855450,
E mail – research@phdcci.in
Website www.phdcci.in

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