MUMBAI: Credit card dues have emerged as the fastest-growing segment among sectors that account for over 1% of total bank loans as of July end.
Outstanding credit card balances grew 22% year-on-year to nearly Rs 2.8 lakh crore. The fastest growing segment in personal loans was, however, loans against gold jewellery, which represented 0.8% of total bank credit and grew 39%.
As of July end, agriculture and allied activities made up 12.8% of non-food credit, while services accounted for 27.4%. Personal loans held the largest share at 32.9%, followed by industry, which comprised 22.2%.

According to RBI’s sectoral data on bank credit, personal loans remained a significant driver of credit growth, increasing by 14.4% to reach nearly Rs 55.3 lakh crore. Agriculture and allied activities saw an 18.1% increase in credit outstanding to total to about Rs 21.6 lakh crore.
Personal loans grew faster than the industry rate of 13.7% despite home loans – the largest segment in the category – seeing slower growth of 12.8%, with outstanding loans rising Rs 28.1 lakh crore.