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Systematix Research Report
Scheduled commercial banks witnessed non-food credit growth of 7.1% YoY in November 2021 against 5.9% YoY in Nov-2020; month-on-month growth was ~1% at Rs 110.8 trillion.
Healthy growth in retail and agriculture segments continued to aid overall credit growth, with the industrial and services segments also witnessing traction in recent months.
Non-food credit expansion was supported by 11.6%/10.4%/3.8%/3.6% YoY growth in the retail/agriculture/industrial/services segments, respectively.
On an incremental basis, net addition to non-food credit remained positive for the third consecutive month with a net credit expansion of Rs 972 billion. Moreover, incremental credit has been in the positive territory within the industrial/services/retail segments for the second consecutive month, expanding by Rs 108 billion/Rs 226 billion/Rs 298 billion, respectively.
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