**Executive Summary**
This document presents data on the sectoral deployment of bank credit for January 2026, focusing on 41 select scheduled commercial banks. Non-food bank credit experienced a year-on-year growth of 14.4% as of January 31, 2026. Key sectors showing notable credit growth include industry and personal loans. The report reflects data up to January 31, 2026, with year-on-year comparisons referencing the corresponding fortnight of the previous year.
**Key Points / Main Content**
* **Overall Non-Food Credit Growth:**
* Year-on-year (y-o-y) non-food bank credit grew by 14.4% as of the fortnight ended January 31, 2026.
* This represents an increase compared to the 11.3% growth observed during the corresponding fortnight of the previous year (January 24, 2025).
* **Sectoral Credit Deployment Highlights (as of fortnight ended January 31, 2026):**
* **Agriculture and Allied Activities:**
* Recorded a y-o-y growth of 11.4%.
* This is a slight decrease from the 12.2% growth in the corresponding fortnight of the previous year.
* **Industry:**
* Registered a y-o-y growth of 12.1%, an increase from 8.3% in the prior year's corresponding fortnight.
* 'Micro and Small' and 'Medium' industries showed sharp expansion.
* Credit to large industries remained robust.
* 'Infrastructure', 'all engineering', 'chemical and chemical products', and 'textiles' showed resilient y-o-y growth.
* **Services Sector:**
* Grew at a rate of 15.5% y-o-y, up from 12.3% in the prior year's corresponding fortnight.
* Growth was supported by segments such as 'non-banking financial companies (NBFCs)', 'trade', and 'commercial real estate'.
* **Personal Loans:**
* Recorded a y-o-y growth of 14.9%, an increase from 11.9% a year ago.
* 'Vehicle loans' and 'loans against gold jewellery' saw accelerated credit growth.
* 'Housing' loans witnessed steady growth.
* Growth in 'credit card outstanding' significantly moderated compared to the previous year.
* **Data Methodology:**
* Data is based on the sector-wise and industry-wise bank credit (SIBC) return from 41 select scheduled commercial banks, accounting for approximately 95% of total non-food credit.
* With effect from December 31, 2025, the definition of the last reporting fortnight changed to the last day of the month, as per the Banking Laws (Amendment) Act 2025.
* Y-o-y growth rates from December 2025 onwards are based on end-of-month data for the current year and the last reporting fortnight of the previous year.
**Impact Analysis**
**Scheduled Commercial Banks (SCBs)**
* **Impact:** These entities are the source of the data and are directly involved in deploying bank credit. The report highlights their performance and lending trends across various sectors.
* **Action Required:** Review the reported sectoral credit deployment data and understand the growth trends.
**Businesses (across various sectors: Agriculture, Industry, Services, NBFCs, Trade, Commercial Real Estate)**
* **Impact:** The deployment of bank credit directly influences their access to funding, operational capacity, and growth opportunities. Sectors experiencing robust credit growth may benefit from increased investment and expansion.
* **Action Required:** Analyze how credit availability and growth in their specific sectors might affect their business strategies and financial planning.
**Individuals seeking loans (for vehicles, housing, credit cards, gold jewellery)**
* **Impact:** The report indicates trends in personal loan growth, including specific segments like vehicle loans, housing loans, and credit card outstanding. This can influence loan availability, interest rates, and borrowing capacity.
* **Action Required:** Understand the general trends in personal loan segment growth which may impact their borrowing experience.
**Regulators (Reserve Bank of India)**
* **Impact:** This document is a publication by the Reserve Bank of India, providing insights into the economic landscape based on bank credit data.
* **Action Required:** Continue monitoring and analyzing sectoral credit deployment for policy formulation and economic oversight.
Key Entities Referenced
Reserve Bank of India: The central bank of India, issuing this press release and regulating banking activities.
Banking Laws (Amendment) Act 2025: Legislation that has impacted how data is collected for reporting fortnights.
Scheduled Commercial Banks (SCBs): Banks whose credit data is the subject of the report and the source of non-food credit data.
Ajit Prasad: Deputy General Manager (Communications) at the Reserve Bank of India, who signed the press release.
प्रेस प्रकाशनी PRESS RELEASE
भारतीय �रज़वर् बैंक
RESERVE BANK OF INDIA
वेबसाइट : www.rbi.org.in/hindi संचार िवभाग, केंद्रीय कायार्लय, शहीद भगत िसंह मागर्, फोटर्, मुंबई - 400 001
Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort,
ई-मेल/email : helpdoc@rbi.org.in Mumbai - 400 001 फोन/Phone: 022 - 2266 0502
February 27, 2026
Sectoral Deployment of Bank Credit – January 2026
Data on sectoral deployment of bank credit for the month of January 2026, collected from 41
select scheduled commercial banks (SCBs) which together account for about 95 per cent of
the total non-food credit by all SCBs,1 are set out in Statements I and II.
On a year-on-year (y-o-y) basis, non-food bank credit2 grew by 14.4 per cent as on the
fortnight ended January 31, 2026, compared to 11.3 per cent during the corresponding fortnight
of the previous year (i.e., January 24, 2025).
Highlights of the sectoral deployment of bank credit as on the fortnight ended
January 31, 2026, are given below:
• Credit to agriculture and allied activities registered a y-o-y growth of 11.4 per cent vis-à-
vis 12.2 per cent in the corresponding fortnight of the previous year.
• Credit to industry recorded a y-o-y growth of 12.1 per cent, compared with 8.3 per cent
in the corresponding fortnight of the last year. Credit to ‘Micro and Small’ and ‘Medium’
industries continued to exhibit sharp expansion. Credit to large industries remained
robust. Among major industries, outstanding credit to ‘infrastructure’, ‘all engineering’,
‘chemical and chemical products, ‘textiles’ registered resilient y-o-y growth.
• Credit to services sector registered a growth rate of 15.5 per cent y-o-y (12.3 per cent in
the corresponding fortnight of the previous year), supported by higher growth in
segments such as ‘non-banking financial companies (NBFCs)’, ‘trade’ and ‘commercial
real estate’.
• Credit to personal loans segment recorded a y-o-y growth of 14.9 per cent, as compared
with 11.9 per cent a year ago. While segments such as ‘vehicle loans’ and ‘loans against
gold jewellery’ recorded accelerated credit growth, ‘housing’ witnessed steady growth.
The growth in ‘credit card outstanding’ significantly moderated compared to a year ago.
Ajit Prasad
Press Release: 2025-2026/2185 Deputy General Manager
(Communications)
1 Data pertain to the last reporting fortnight of the month, based on sector-wise and industry-wise bank credit
(SIBC) return. With effect from December 31, 2025, definition of last reporting fortnight has been changed to
the last day of the month under the Banking Laws (Amendment) Act 2025. Accordingly, the y-o-y growth
rates from December 2025 onwards are based on end-of-month data for the current year and data for the
last reporting fortnight (as per old definition) for the corresponding month of the previous year.
2 Non-food credit data are based on Section-42 return which covers all scheduled commercial banks (SCBs).