The Reserve Bank of India said non-food bank credit grew 17.4 per cent year-on-year as on the fortnight ended May 31, 2026. In the corresponding fortnight a year earlier, ended May 30, 2025, growth was 8.8 per cent.
The figures were released by the RBI in its press release dated June 30, 2026, on sectoral deployment of bank credit for May 2026. The sector-wise data were collected from 41 select scheduled commercial banks. According to the RBI, these banks together account for about 95 per cent of total non-food credit by all scheduled commercial banks.
Credit growth by major sector
The RBI release showed faster year-on-year credit growth across the main reported segments, including agriculture, industry, services and personal loans.
- Agriculture and allied activities recorded 14.9 per cent growth, compared with 7.5 per cent in the corresponding fortnight of the previous year.
- Industry recorded 17.5 per cent growth, against 5.3 per cent a year earlier.
- Services sector credit grew 20.4 per cent, compared with 8.4 per cent in the same period last year.
- Personal loans grew 15.4 per cent, against 11.1 per cent a year earlier.
Industry credit details
Within industry, the RBI said credit to micro and small industries and medium industries continued to expand at a strong pace. Credit to large industries grew at a faster pace than in the previous year’s corresponding period.
Among major industries, credit growth was described as buoyant in infrastructure, all engineering, textile, construction, petroleum, coal products and nuclear fuels, and chemical and chemical products. The RBI also noted that rubber, plastic and their products, and wood and wood products saw marginally subdued growth.
Services and personal loans
The services sector recorded the highest growth rate among the broad categories mentioned in the release, at 20.4 per cent year-on-year. The RBI said the rise was supported by faster growth in credit to non-banking financial companies, commercial real estate and trade.
In the personal loans segment, the RBI reported 15.4 per cent year-on-year growth. Vehicle loans and housing loans registered steady growth, while credit card outstanding decelerated.
How the RBI described the data
The RBI said the sectoral deployment data relate to the last reporting fortnight of the month and are based on the sector-wise and industry-wise bank credit return. It also noted a change in the definition of the last reporting fortnight with effect from December 31, 2025, under the Banking Laws (Amendment) Act 2025. From December 2025 onward, year-on-year growth rates are based on end-of-month data for the current year and data for the last reporting fortnight, under the earlier definition, for the corresponding month of the previous year.
The central bank added that non-food credit data are based on the Section-42 return, which covers all scheduled commercial banks.
Source: Reserve Bank of India Press Releases.
