# Bank credit to industry up 19%, personal loans stay strong — retained record

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source: [news](https://highsignal.app/data/news) (news:india-et-markets)  published 2026-07-31 19:28 ingested 2026-08-01 08:22

[original source ↗](https://economictimes.indiatimes.com/markets/stocks/news/bank-credit-to-industry-up-19-personal-loans-stay-strong/articleshow/132779540.cms)

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In the personal loan segment, loans against gold jewellery, which include certain agriculture loans, remained the fastest-growing sector, surging 93% YoY, data published Friday by the Reserve Bank of India (RBI) showed. Vehicle loans with a 17% growth were the second-fastest in the personal loan segment. Credit card outstanding growth decelerated to 2% compared to 7% recorded a year ago.
Growth in education loans also remained strong at 13% versus 14% recorded a year ago.
“Continued strong growth in gold loans indicates a gradual behavioural shift as households increasingly leverage gold ornaments to meet liquidity needs, shedding the traditional reluctance to pledge gold. Stringent norms on unsecured personal loans and relatively cautious bank lending in the personal loan segment support the gold loan growth,” said VRC Reddy, head treasury at Karur Vysya Bank.
Within the services sector, which grew 21%, credit to NBFCs remained strong growing 32% versus 3% recorded a year ago, RBI data showed.
Petroleum, coal products and nuclear fuels with a year-on-year growth of 49%, and gems and jewellery with 33% year-on-year growth, were among the fastest-growing sectors.
Among the large sectors engineering (with 38% year-on-year growth), infrastructure (with 11% growth), and food processing (with 20% growth) were among the fastest-growing sectors within industry.
Another notable trend is the sharp rise in computer software credit. It rose 48% year on year and 18% year to date. "This is driven by higher credit demand from firms supporting the expansion of data centres, hyperscalers and Global Capability Centres underscoring the rapid growth of India’s digital infrastructure ecosystem," Reddy said.
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