Bank credit grows 6%, deposits 11.3%
Bank credit grew 6.05 per cent to Rs 105.49 lakh crore, while deposits rose 11.33 per cent to Rs 144.82 lakh crore during December 5-18, RBI data showed
image for illustrative purpose
Mumbai: Bank credit grew 6.05 per cent to Rs 105.49 lakh crore, while deposits rose 11.33 per cent to Rs 144.82 lakh crore during December 5-18, RBI data showed.
In the fortnight ended December 20, 2019, bank credit stood at Rs 99.47 lakh crore and deposits at Rs 130.09 lakh crore. In the fortnight ended December 4 this year, bank credit grew 5.73 per cent to Rs 105.04 lakh crore and deposits by 11.34 per cent to Rs 145.92 lakh crore.
In October, non-food credit grew 5.6 per cent compared to a growth of 8.3 per cent in the same month of the previous year. Growth in loans to agriculture and allied activities accelerated to 7.4 per cent in the month from 7.1 per cent last year. Credit to industry contracted 1.7 per cent in October 2020 as compared with 3.4 per cent growth in the year-ago period.
Growth in loans to the services sector accelerated to 9.5 per cent in October 2020 from 6.5 per cent in the same month of the previous year. During the month, personal loans registered a growth of 9.3 per cent as compared with 17.2 per cent increase in October 2019.
