Reserve Bank of India (RBI) data shows industrial credit demand accelerates

Key facts

• Industrial credit grew 9.6 per cent year-on-year till November compared to 8.3 per cent a year ago.
• Credit to ‘Micro and Small’ and ‘Medium’ industries continued to exhibit double-digit expansion.
• Outstanding credit to ‘infrastructure’, ‘all engineering’, ‘textiles’ and ‘petroleum, coal products and nuclear fuels’ registered buoyant growth.
• Retail loans segment recorded 12.8 per cent growth, down from 13.4 per cent a year ago.
• Credit card outstanding growth slowed to 2.4 per cent year-on-year in November 2025 from 18.1 per cent a year ago.
• Housing credit growth moderated to 9.9 per cent from 12.2 per cent in the year-ago period.
• Vehicle loan growth rose to 12.4 per cent year-on-year in November from 10.3 per cent last year.
• Loan against gold jewellery surged 125.3 per cent year-on-year, up from 77.3 per cent in November 2024.
• Credit growth to the services sector was 11.7 per cent against 12.8 per cent a year ago.
• Loan growth to non-banking financial companies (NBFCs) improved to 9.5 per cent year-on-year in November from 7.5 per cent last year.