Sunday, April 11

Bank credit grows by 8.07%, deposits 9.92%: RBI data

MUMBAI: Bank’s credit grew by 8.07 per cent to Rs 98.47 lakh crore in the fortnight ended November 6, according to the recent RBI data.

In the similar fortnight last year, the advances have stood at Rs 91.11 lakh crore.

In the previous fortnight ended October 25, 2019, bank credit had grown by 8.90 per cent y-o-y to Rs 98.39 lakh crore.

Bank deposits in the fortnight ended November 8 increased by 9.92 per cent to Rs 129.98 lakh crore from Rs 118.257 lakh crore year ago, RBI data showed.

Deposits had grown by 10.25 per cent to Rs 129.78 lakh crore in the fortnight ended October 25.

On a year-on-year (y-o-y) basis, non-food bank credit growth decelerated to 8.1 per cent in September 2019 from 11.3 per cent in September 2018.

Loans to agriculture & allied activities rose by 7 per cent in September 2019 as compared with an increase of 5.8 per cent last year same period.

Advances to the services sector decelerated sharply to 7.3 per cent in September 2019 from 24 per cent in September 2018.

Credit growth to industry accelerated to 2.7 per cent in September 2019 from 2.3 per cent in September 2018.

Personal loans growth accelerated to 16.6 per cent in September 2019 from 15.1 per cent in September 2018.


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