Industry’s share in bank credit shrinks to 23%: RBI

Bank loans to the services and agriculture sectors were the primary contributors to the 20% increase in credit growth in FY24. Both sectors experienced growth of over 20%, as reported by the RBI. Although the rate of credit growth towards large industries more than doubled in FY24 (7%) compared to the previous year (3.1%), it still remained slow, leading to a continued decrease in market share.