Bank credit grows at 11.52%, deposits at 7.96%
RBI data shows rising bank credit.
Banks' credit rose 11.52% year-on-year to Rs 84,78,459 crore in the fortnight ended April 13, RBI data showed. In the same period ended April 14, 2017, banks advances were at Rs 76,01,970 crore.In the previous fortnight ended March 30, 2018, banks loans grew by 10.32% to Rs 86,50,714 crore from Rs 78,41,466 crore in the period ended March 31. Deposits grew at 7.96% to Rs 113,77,729 crore in the period ended April 13, as against Rs 105,38,304 crore in the year-ago fortnight, according to the data.
In the fortnight ended March 30, the deposits had increased by 6.66% to Rs 1,14,74,989 crore from Rs 1,07,57,656 crore in the year-ago period. In February 2018, non-food bank credit increased by 9.8% on a year-on-year basis as against an increase of 3.3% in February 2017. Credit to agriculture and allied activities increased by 9% in February 2018, same as in February 2017. PTI HV