CapitalVia Research Desk · 3 Nov 2026

Data Story · 3 Nov 2026

RBI · Bank credit · September 2026

Banks lent 19.5% more to industry this year. A year ago, that growth was 7.7%.

Business credit has gone from crawling to sprinting in twelve months. Loans to services firms grew even faster, at 28.3%, and personal loans sped up too.

19.5%

Growth in bank credit to industry, year on year, as of 30 Sept 2026

7.7%same point in 2025

2.5×

Industry credit is growing two and a half times as fast as it was a year ago. Large and medium companies drove the speed-up.

Every major borrower group is growing faster

Year-on-year growth in bank credit, by sector

20252026

Services+18.4 pts · fastest

9.9%

28.3%

Industry+11.8 pts

7.7%

19.5%

Agriculture & allied+10.6 pts

8.9%

19.5%

Personal loans+5.8 pts

11.5%

17.3%

All non-food credit+7.9 pts

11.2%

19.1%

0%10%20%30%

Inside personal loans

FasterLoans against fixed deposits accelerated, the RBI says: borrowing against savings rather than breaking them.

SteadyHome loans and vehicle loans stayed resilient, according to the RBI.

SlowerGold loans and education loans grew more slowly than last year, though growth is still strong.

What it means for you

Salaried

Your EMI is part of a 17.3% wave

Personal loans are growing faster than a year ago. Before taking a new loan, check your total EMIs against your take-home pay. A loan against an FD usually costs less than an unsecured personal loan.

Founders

Credit is flowing, but bigger firms got the speed-up

The RBI says loans to large and medium industries accelerated, while micro and small firms saw steady growth. Keep your banking records clean and apply early, before working-capital needs peak.

Business leaders

Competitors are borrowing to expand

Credit to infrastructure, metals, engineering, chemicals, food processing and textiles grew strongly. Fast borrowing across a sector can signal new capacity, and more competition, ahead.

Where banks get the money

All scheduled commercial banks, year on year to 15 Oct 2026

18.2%

Bank credit growth

11.6% a year earlier

16.7%

Deposit growth

9.5% a year earlier

Read with care: because of a rule change, the 2026 figures are month-end numbers (30 Sept). The 2025 comparison uses the old reporting fortnight (3 Oct 2025). The RBI's sector data covers 41 banks that hold about 95% of non-food credit.

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Banks lent 19.5% more to industry this year. A year ago, that growth was 7.7%.

Every major borrower group is growing faster

Inside personal loans

What it means for you

Your EMI is part of a 17.3% wave

Credit is flowing, but bigger firms got the speed-up

Competitors are borrowing to expand

Where banks get the money

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