Banks have reduced the interest rate for car and home loans that later resulted in the growth of retail credit to 16.3% in November. The processing fees have been cut in most of the banks. The rise of the credit was 14.1% during October and that of 13.3% during November. The rate of interest has increased to 25.8% for vehicle loans when compared to 22.2% in October. The interest for housing loans was increased to 13.2%, comparing to the rise of 12.1% in October.

The industry has got the credit increase of 17.7% during November, when compared to 15.2% in October. This credit has gone to 20.9% during November in 2011. The slowdown of credit growth was found in most of the main sub-industries like petroleum, quarrying and mining, wood products, paper products, nuclear fuels, coal products, chemical and cement products and other engineering sectors. The credit was raised to 15.3% in the service segment during November and had increased in October by 13,7%.

Non-banking finance companies, NBFCs, had increased credit to 30.3% in November and 27.9% in the former month. Agriculture credits were raised to 24.4% in November and that of 22.9% in October. The credits to NBFC and agriculture have been increased to 39.2% and 7.3% in November 2011, respectively.