Mumbai: Bank lending to India's services, industry and agriculture sectors accelerated in September 2026, with services credit growing 28.3 per cent, while industrial and agricultural credit both increased by 19.5 per cent year on year, according to data released by the Reserve Bank of India (RBI) on Friday, news agency ANI reported. Overall, non-food bank credit grew by 19.1 per cent year on year as of September 30, compared with 11.2 per cent in the corresponding period last year.

Source: ANI via DevDiscourse

19.1%Non-food bank credit growth, September 2026 (11.2% a year earlier)
28.3%Services credit growth (9.9% a year earlier)
19.5%Industry credit growth (7.7% a year earlier)
19.5%Agriculture and allied credit growth (8.9% a year earlier)
17.3%Personal loans growth (11.5% a year earlier)

According to the RBI's Sectoral Deployment of Bank Credit release, lending to the services sector increased by 28.3 per cent, compared with 9.9 per cent a year earlier. The central bank attributed the growth to strong lending to non-banking financial companies (NBFCs), trade, commercial real estate, transport operators and professional services, ANI reported. TripuraNet, reporting the same RBI release, also put non-food credit growth at 19.1 per cent and services growth at 28.3 per cent.

Source: TripuraNet (RBI data)

Bank lending to industry rose by 19.5 per cent, compared with 7.7 per cent in the corresponding period last year. The RBI said credit to 'large' and 'medium' industries grew at an accelerated pace, while 'micro and small' industries exhibited steady growth, and that infrastructure, basic metals and metal products, engineering, chemicals, food processing and textiles recorded strong credit growth among major industries.

Source: ANI via DevDiscourse

Credit to agriculture and allied activities increased by 19.5 per cent year on year, compared with 8.9 per cent a year earlier. Personal loans grew by 17.3 per cent, against 11.5 per cent a year earlier; the RBI said lending for housing and vehicle purchases remained resilient, while advances against fixed deposits accelerated. Growth in loans against gold jewellery and in education loans slowed compared with last year, although it remained strong.

Source: ANI via DevDiscourse

The sectoral credit data were collected from 41 scheduled commercial banks, accounting for about 95 per cent of total non-food credit extended by scheduled commercial banks, the RBI said. In related RBI data for September, the weighted average lending rate on fresh rupee loans declined to 8.51 per cent, from 8.61 per cent in August, TripuraNet reported.

Source: TripuraNet (RBI data)