Bank credit grows at 14.35 per cent, deposits at 8.86 per cent: RBI data

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Mumbai | Published: October 26, 2018 4:11:07 PM

Bank credit increased by 14.35 per cent to Rs 89.93 lakh crore in the fortnight ended October 12, while the deposits rose by 8.86 per cent to Rs 117.85 lakh crore, according to the Reserve Bank of India (RBI) data.

Bank credit grows at 14.35 per cent, deposits at 8.86 per cent: RBI data

Bank credit increased by 14.35 per cent to Rs 89.93 lakh crore in the fortnight ended October 12, while the deposits rose by 8.86 per cent to Rs 117.85 lakh crore, according to the Reserve Bank of India (RBI) data.

In the year-ago period, banks advances stood at Rs 78.64 lakh crore, while deposits were at Rs 108.25 lakh crore. In the previous fortnight, which ended on September 28, bank credit was up by 12.51 per cent to Rs 89.82 lakh crore, while the deposits had risen by 8.07 per cent to Rs 117.99 lakh crore.

In August 2018, non-food credit rose by 12.4 per cent, compared with an increase of 5.5 per cent in the same month last year, RBI data showed. Advances to industry rose by 1.9 per cent in August 2018, against a contraction of 0.3 per cent in August 2017.

Bank loans to agriculture and allied activities were up by 6.6 per cent, compared with an increase of 6.5 per cent last year, while credit to the services sector expanded by 26.7 per cent, against 5 per cent. Personal loans rose by 18.2 per cent in August 2018, up from an increase of 15.7 per cent in August 2017.

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