Document title: Sectoral Deployment of Bank Credit – September 2026
Issuing authority: Reserve Bank of India
Reference: Press Release 2026-2027/1412
Date: 30 October 2026
Banking and Credit
The Reserve Bank of India reports that non‑food bank credit expanded by 19.1 % year‑on‑year (YoY) in the fortnight ended 30 September 2026, compared with an 11.2 % increase in the corresponding fortnight of the previous year. The data are drawn from 41 selected scheduled commercial banks, which together represent approximately 95 % of total non‑food credit extended by all scheduled commercial banks.
Credit to agriculture and allied activities rose 19.5 % YoY, up from 8.9 % in the same period last year. Industry credit also grew 19.5 % YoY, accelerating from 7.7 % previously, with large and medium‑sized enterprises showing faster growth while micro and small enterprises recorded steady expansion. Among major industry segments, infrastructure, basic metal and metal products, all engineering, chemical and chemical products, food processing and textiles posted notable buoyant growth.
The services sector experienced the strongest YoY expansion, with credit increasing 28.3 % versus 9.9 % a year earlier. Growth was driven by higher lending to non‑banking financial companies (NBFCs), trade, commercial real‑estate, transport operators and professional services.
Personal‑loan credit grew 17.3 % YoY, up from 11.5 % in the prior year. Housing and vehicle loans remained resilient, advances against fixed deposits accelerated, while loans against gold jewellery and education showed a deceleration yet continued to grow strongly.
A methodological note states that, effective 31 December 2025, the definition of the “last reporting fortnight” was changed to the last day of the month under the Banking Laws (Amendment) Act 2025. Consequently, YoY growth rates from December 2025 onward are based on end‑of‑month data for the current year and the previous‑year last‑reporting‑fortnight data.
In summary, September 2026 saw robust expansion across all major credit segments, with the services sector leading the surge, reflecting continued credit appetite in the economy.