Bank credit grows at 11.52 percent, deposits at 7.96 percent

Banks’ credit rose 11.52 per cent 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 per cent to Rs 86,50,714 crore from Rs 78,41,466 crore in the period ended March 31.

Deposits grew at 7.96 per cent 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 per cent 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 per cent on a year-on-year basis as against an increase of 3.3 per cent in February 2017. Credit to agriculture and allied activities increased by 9 per cent in February 2018, same as in February 2017.