As per the data released by RBI, on a sectoral basis, of the total bank credit offtake, personal loans comprising home, education and vehicle loan account for the most 96% of the incremental non-food credit in the FY 2018 until February 16.

In contrast in the FY 17 and FY 16, the share of personal loan of the total credit stood at 41.6 and 41.5% respectively. Sectoral wise RBI data is not available for whole of FY18.

The decline in industrial credit is owed to sharp decrease in fresh investments in the corporate while the only driving force up-ticking credit demand is the retail sector. While the trend is likely to continue for few more quarters given the lackluster in the corporate space, retail demand is expected to be high on account of services demand pickup.

Of the total non-food credit of Rs. 2.44 trillion, Rs. 2.34 trillion is accounted for by personal loans, which is a sharp increase of 17.6% in personal loans on a year on year basis.

As the RBI's classification, various consumer centric loan accounts make up the personal loan segment including vehicle or car loans, education loans, loan against FDs, shares as well as other personal loans.

Credit to the agriculture and allied sector also grew higher by Rs. 244 billion while to the industry it declined by Rs. 528 billion during the period until February 16, 2018.

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