The growth in bank credit to non-banking financial companies (NBFCs) declined sharply to 6.4 per cent in October compared to 18.3 per cent in the year-ago period, dragging down the growth of overall credit to the services sector, according to the Reserve Bank of India’s (RBI’s) sectoral deployment of credit data. Overall growth in credit offtake by the services sector dropped to 14.1 per cent Y-o-Y in October compared to 20.4 per cent, largely due to reduced growth in credit to NBFCs and trade segment.