Solution

According to the data provided by the Reserve Bank of India, bank loans to the services sector grew three-fold to Rs 4.87 trillion in April-December 2022 from Rs 1.55 trillion in the same period last year. Credit to Non-Banking Finance Companies (NBFCs) and trade (wholesale and retail) showed maximum traction commercial real estate, which is part of the services sector, also showed traction in the nine months.   In contrast to the services sector, the growth in bank loans to the industry was weakened.Banks disbursed Rs 1.35 trillion in April-December 2022 compared to Rs 0.93 trillion in the same period of 2021. Bank lending to the retail segment comprising housing, credit cards, automobile purchases, and other purposes grew two-fold to Rs 5.54 trillion in nine months of FY23 as against Rs 2.71 trillion in same period of FY22.