Non-food bank credit grew 14.4% year-on-year as of the fortnight ended January 31, 2026, higher than 11.3% in the corresponding fortnight a year ago, according to data released by the Reserve Bank of India.
The data, based on inputs from 41 select scheduled commercial banks accounting for about 95% of total non-food credit, showed broad-based expansion across key sectors.
Bank credit is broadly divided into two categories: food credit and non-food credit. Food credit refers to loans extended by banks to the Food Corporation of India (FCI), primarily for the procurement of foodgrains, and accounts for a relatively small share of overall lending.
The larger component is non-food credit, which includes loans to key sectors such as agriculture, industry and services, along with personal loans to individuals.
As per the RBI, credit to agriculture and allied activities increased 11.4% year-on-year, slightly lower than 12.2% growth recorded in the corresponding fortnight last year.
Credit to industry rose 12.1%, compared with 8.3% a year ago. Lending to micro and small as well as medium industries continued to expand sharply, while credit to large industries remained robust. Among major industries, infrastructure, engineering, chemicals and chemical products, and textiles registered resilient year-on-year growth.
Credit to the services sector grew 15.5% year-on-year, up from 12.3% in the same period last year, driven by higher growth in segments such as non-banking financial companies, trade and commercial real estate.
Also Read: Bank credit to industry rises 9.6% in November: RBI data
In the personal loans segment, credit growth stood at 14.9% compared with 11.9% a year earlier. Vehicle loans and loans against gold jewellery recorded faster growth, while housing loans expanded steadily. However, growth in credit card outstanding moderated significantly from a year ago.
Earlier, on February 13, the RBI had said overall bank credit growth remained firmly in double digits at 14.6% year-on-year as of January 31, accelerating from 13.1% in the previous fortnight.
On the liability side, aggregate bank deposits grew 12.5% year-on-year as of January 31, up sharply from 10.6% in the previous fortnight.
