Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Industry / Banking/  Bank credit grows at 6.02%, deposits at 11.19%: RBI data
BackBack

Bank credit grows at 6.02%, deposits at 11.19%: RBI data

Bank credit growth was up 6.02% to Rs76,58,212 crore in the fortnight ended 9 June from Rs72,22,939 crore in the same period of fiscal 2016, shows RBI data

In the fortnight ended 26 May, advances had grown by 5.08% with outstanding loans at Rs75,93,546 crore. Photo: MintPremium
In the fortnight ended 26 May, advances had grown by 5.08% with outstanding loans at Rs75,93,546 crore. Photo: Mint

Mumbai: Banks’ credit growth was up 6.02% to Rs76,58,212 crore in the fortnight ended 9 June from Rs72,22,939 crore in the same period of fiscal 2016, according to the data released by the Reserve Bank of India (RBI).

The growth in advances in the reporting period was slightly higher than the previous fortnight ended 26 May 2017, RBI data showed. In the fortnight ended 26 May, advances had grown by 5.08% with outstanding loans at Rs75,93,546 crore.

In the fiscal ended 31 March, credit growth had plunged to a multi-year low of 5.08% with outstanding loan at Rs78.81 trillion as against Rs75.01 trillion on 1 April 2016. In the reporting fortnight, bank deposits grew at 11.19% to Rs105,77,947 crore from Rs95,13,148 crore in the fortnight ended 10 June 2016.

Deposits in the fortnight ended 26 May had grown by 10.9% to Rs105,51,182 crore from Rs95,14,087 crore in the period ended 27 May 2016, the data showed.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Industry News, Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 21 Jun 2017, 03:20 PM IST
Next Story footLogo
Recommended For You
Banking Stocks
â‚ą1,053.6-0.5%
â‚ą1,440.70.52%
â‚ą1,0841.08%
â‚ą122.751.3%
â‚ą734.052.53%
Switch to the Mint app for fast and personalized news - Get App