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Despite of the increasing interest rates to curb inflation the credit to industry sector 26.7% y-o-y in May 2011 from 25.8 % in the same month last year, however, credit to manufacturing declined to 13% in May 2011 from 14.8% in the corresponding month in the last year.
According to the Reserve Bank of India’s data on the sectoral development of credit for the month of May, Credit to agriculture on a y-o-y basis decreased by 12.8 % in May 2011 as compared with 21.0 % in the previous year.
The service sector which include Transport Operators, Computer Software, Tourism, Hotels & Restaurants Professional Services Commercial Real Estate, increased by 21.8% in May 2011 as compared to last year. Under service sector, NBFCs show the highest demand for credit, as per the RBI’s statement, Credit growth to NBFCs at 54.4 % y-o-y in May 2011 was significantly higher than that of 17.5 % during the corresponding period of the previous year.
The personal loan segment, which include Consumer Durables, Housing (Including Priority Sector Housing), Advances to Individuals against share, bonds, etc., Advances against Fixed Deposits (Including FCNR (B), NRNR Deposits etc.) Vehicle Loans, Other Personal Loans, show a strong growth in credit. The credit to personal loans increase by the 17.7% in May 2011 from 5.6% in the corresponding period of last year. The Consumer Durables (26.6%), Advances against Fixed Deposits (Including FCNR (B) (26.3%), and Vehicle Loans (23.9%) registered the highest growth in credit in personal loans segment.
However, decrease in credit demand from the agriculture is because of many reasons. It is expected that the decline in the demand for credit could be because of irregular monsoon, and another reason is bulf of farmers were eligible for the agriculture debt-waiver scheme, where the farmer had pay 75% of the loan amount in the single installment, were not in a position to pay their share of the loan amount. Because of this farmers loan turned into Non-Performing Assets (NPA) and farmers were not eligible for the fresh loan.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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