1. Non-food credit up marginally to 10.07 per cent

Non-food credit up marginally to 10.07 per cent

The growth in non-food credit of banks accelerated marginally to 10.07% (Y-o-Y) in the fortnight ended May 27, as compared to the 10.01% growth seen in the previous fortnight, RBI data released on Wednesday shows.

By: | Mumbai | Published: June 9, 2016 7:13 AM

The growth in non-food credit of banks accelerated marginally to 10.07% (Y-o-Y) in the fortnight ended May 27, as compared to the 10.01% growth seen in the previous fortnight, RBI data released on Wednesday shows.

Outstanding non-food credit in the banking system stood at R71.43 lakh crore as on May 27, as compared to R64.89 lakh crore in the same fortnight last year — a rise of R6.54 lakh crore. The rate of growth in deposits, on the other hand, fell to 9.48% (Y-o-Y), as compared to 9.84%.

With hardly any growth in project loan sanctions, the 10.07% credit growth is most likely a function of demand from the retail segment.

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