Credit offtake remains Robust in April Across all Sectors

Current Context: According to the Reserve Bank of India data report, credit to industry enhanced to 8.1% in April 2022 which is, higher than 7.1% in March 2022.

• In the first month of the new financial year April, it has been observed that credit offtake continued to be vigorous across all sectors like farming, industry, services, and retail.
• As per data credit to medium-sized industries registered a growth of 53.5%, micro and small industries rose to 29.0% and the large industries segment also showed growth of 1.6%.
• There has been major growth in the services sector mainly due to finance companies, trade, tourism, hotels & restaurants, and transport operators.
• Credit growth in agriculture and allied activities has also shown an increase of 10.6 percent in April 2022.
• The evolving patterns in credit allocation across sectors show that credit offtake remained on the higher side in the upcoming months.

Question:

Q.1 Which of the following sector has registered the highest credit growth rate in April 2022 as per the RBI report?
a. Medium Sized Industries
b. Agriculture Sector
c. Service Sector
d. Retail