SCBs credit dips by Rs 17,064 crore

Mumbai, Apr 27 | Updated: Apr 28 2007, 08:13am hrs
The total bank credit extended by the scheduled commercial banks (SCBs) for the week ended April 13, 2007 dipped by Rs 17,064 crore (0.9%) to Rs 1,906,128 crore from Rs 1,923,192 crore for the fortnight ended March 30, 2007.

The food credit decreased by Rs 166 crore to Rs 46,354 crore during the fortnight, while non-food credit reduced by Rs 16,898 crore to settle at Rs 18,59,774 crore as on April 13, 2007 . The aggregate deposits of the banking system increased by Rs 7,407 crore during the reporting fortnight to settle at Rs 26,01,666 crore from its earlier level of Rs 25,94,259 crore in the previous fortnight. Time deposits increased by Rs 40,630 crore during the week to reach Rs 22,11,763 crore, while demand deposits decreased by Rs 33,223 crore to Rs 3,89,903 crore. Foreign exchange reserves jumped by $789 million during the week ended April 13, 2007 to $ 203.881 billion. According to the weekly statistical supplement released by the Reserve Bank of India (RBI) on Friday, the foreign currency assets rose by $788 million during the week to $196.632 billion from $195.844 billion a week ago.

Gold reserves and the reserve position under special drawing rights, other component of the reserves, remained unchanged.