grew at 9.3 per cent, compared with 17.2 per cent in October 2019.
“Within this sector, vehicle loans continued to perform well, registering accelerated growth of 8.4 per cent in October 2020 vis-a-vis a growth of 5.0 per cent in October 2019," the RBI said in a statement.
to the services sector accelerated to 9.5 per cent in October 2020 from 6.5 per cent in October 2019. Within this sector, credit to ‘professional services’, ‘computer software’ and ‘trade’ registered accelerated growth in October 2020 vis-à-vis the growth in the corresponding month of the previous year, it said.
Overall, on a year-on-year basis, non-food bank credit growth decelerated to 5.6 per cent in October 2020 from 8.3 per cent a year ago.