Bank credit mounts 12.44 percent, deposits rise by 8.15%: RBI data

RBI

As per the RBI data, Bank credit got hiked by 12.44 per cent to Rs 86131.64 billion in the fortnight to July 20.

In the year-ago period, bank credit had stood at Rs 76598.98 billion.

Growth in advances during the reporting period was marginally lower than the increase registered in the fortnight to July 6, when loans increased by 12.78 per cent to Rs 86600.69 billion.

During the reporting fortnight, deposits increased by 8.15 per cent to Rs 114381.21 billion from Rs 105756.15 billion a year ago, according to the data.

Deposit the growth, the pace was slower than that in the last fortnight ended July 6, 2018, when they had risen 8.33 per cent to Rs 114857.68 billion.

In June 2018, the non-food bank credit rose 11.1 per cent as against a rise of 4.8 per cent in the same month last year.

Loans to agriculture and allied activities slowed 6.5 per cent in June, compared to an increase of 7.5 per cent in June 2017.

As per the RBI data, Bank credit got hiked by 12.44 per cent to Rs 86131.64 billion in the fortnight to July 20. In the year-ago period, bank credit had stood at Rs 76598.98 billion. Growth in advances during the…