Banks now lend faster to industry (+20.0%) than to individuals (+16.2%).

This is not banks pulling back from you: personal-loan growth rose, from 11.9% to 16.2%. RBI says home and vehicle loans kept growing in double digits, while credit-card balances and gold loans slowed. You are simply no longer banks' fastest-growing customer.

Don't read 20% as easy money for small firms. RBI says large and medium industries drove the acceleration, while micro & small grew only “steadily”. The fastest pipe is services credit (+22.9%), led by bank lending to NBFCs — a route many small businesses borrow through.

Credit is flowing to infrastructure, metals, engineering, chemicals, petroleum and textiles — the industries RBI named for buoyant credit growth. If you buy from, sell to or compete with them, plan for suppliers and rivals that are borrowing to grow.