Growth in advances to the services sector decelerated to 8.9 per cent from 23.9 per cent in January 2019. During the month, personal loans segment grew by 16.9 per cent, unchanged from the year-ago period.
Within personal loans, credit to housing segment grew by 17.5 per cent from 18.4 per cent, while education loan showed a negative growth of 3.1 per cent as against a negative growth of 2.3 per cent in January 2019, the RBI data showed.
Advances growth to agriculture and allied activities contracted to 6.5 per cent from 7.6 per cent rise last year. Credit growth to industry decelerated to 2.5 per cent from 5.2 per cent.
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