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Bank credit grows at 14.35%, deposits at 8.86%

Author: PTI/Friday, October 26, 2018/Categories: Banking & Financial Services

Bank credit grows at 14.35%, deposits at 8.86%

Mumbai, Oct 26 - Bank credit increased by 14.35% to Rs 89.93 lakh crore in the fortnight ended October 12, while the deposits rose by 8.86% 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% to Rs 89.82 lakh crore, while the deposits had risen by 8.07% to Rs 117.99 lakh crore.

In August 2018, non-food credit rose by 12.4%, compared with an increase of 5.5% in the same month last year, RBI data showed.

Advances to industry rose by 1.9% in August 2018, against a contraction of 0.3% in August 2017.

Bank loans to agriculture and allied activities were up by 6.6%, compared with an increase of 6.5% last year, while credit to the services sector expanded by 26.7%, against 5%.

Personal loans rose by 18.2% in August 2018, up from an increase of 15.7% in August 2017.

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