India Non-Food Bank Credit Growth Hits 19.1 Percent

The Reserve Bank of India reported that non-food bank credit grew by 19.1 percent year-on-year for the fortnight ending July 31, 2026. This figure nearly doubles the 9.9 percent growth recorded during the same period in 2025. The data, collected from 41 scheduled commercial banks representing 95 percent of total non-food credit, shows a broad-based acceleration across several economic sectors.

The services sector experienced the highest increase at 22.9 percent, fueled by trade, non-banking financial companies, and commercial real estate. Industrial credit rose by 20 percent, with growth concentrated in large and medium industries, specifically within chemicals, textiles, and infrastructure.

Other sectors also saw gains, with agriculture and allied activities growing by 17 percent and personal loans increasing by 16.2 percent. However, the central bank noted that growth moderated in certain personal lending categories, including loans against gold jewellery and credit card outstandings.