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Kolkata: Gold loans and loans to the renewable energy sector have more than doubled while growth in bank credit to non-banking finance companies (NBFC) and housing finance companies (HFC) decelerated, Reserve Bank of India's data showed.Demand for loans by pledging gold jewelleries continued its surge with the year-on-year growth touching 115% to Rs 3.16 lakh crore at the end of September 19, the last reporting Friday of the month, with the taboo against taking a gold loan, which was once significant in Indian society, is fast diminishing. The growth print was recorded at 51% the same time last year.The central bank's sectoral data also showed a triple digit growth for renewal energy loans at 119% to Rs 14842 crore, albeit on a low base.Bank loans to NBFCs grew a modest 3.9% to Rs 15.9 lakh crore at the same time as compared with 9.5% growth a year back. Out of this window, loans to HFCs grew even slower at 0.2% to Rs 3.25 lakh crore against 5.1% print earlier.Loans given to buy consumer durables shrank 6.2% to Rs 22279 crore as on September ahead of the implementation of the GST rate cut. Credit to personal loans segment also recorded a slower yearly growth of 11.7% as compared with 13.4% a year ago, largely due to moderation in credit card spends and vehicle loans.Live EventsCredit to agriculture and allied activities registered a slower yearly growth of 9% against 16.4% in the corresponding fortnight of the previous year. Credit to industry also recorded a slower 7.3% expansion, compared with 8.9% earlier.Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onGold loansrenewable energy loanshousing finance companiesNBFC credit growthRBI databank creditconsumer durables loanspersonal loansagriculture creditindustry credit growth (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onGold loansrenewable energy loanshousing finance companiesNBFC credit growthRBI databank creditconsumer durables loanspersonal loansagriculture creditindustry credit growth(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless
