MUMBAI, April 30 (Reuters) - Indian banks' credit to
industry grew at a slower pace in March, compared with a year
earlier, data from the Reserve Bank of India showed on Tuesday.
Credit to industry increased by 15.7 percent in March,
slower than the 20.3 percent growth in the same month a year
ago, the central bank data showed.
The RBI said there was a slowdown in credit growth to major
sectors except food processing, textiles, leather and leather
products and wood and wood products.
Sectors such as chemical and chemical products, glass and
glassware, cement and cement products and vehicles, vehicle
parts and transport equipment also did not see a dip in credit
During the month, credit to agriculture grew at 8.1 percent,
compared with 13.3 percent in the year-ago period.
Credit to the services sector and non-banking financial
companies increased by 13.6 percent and 14.7 percent, compared
with 14.4 percent and 23.9 percent respectively.
(Reporting by Shamik Paul; Editing by Jijo Jacob)