Bank credit grows by 14.88%, deposits by 9.13%
In the year-ago fortnight, bank advances stood at Rs 79.31 trillion, while deposits at Rs 108.35 trillion
Bank credit rose by 14.88% to Rs 91.11 trillion in the fortnight ended November 9, while deposits grew by 9.13% to Rs 118.25 trillion, according to the RBI data.
In the year-ago fortnight, bank advances stood at Rs 79.31 trillion, while deposits at Rs 108.35 trillion.
In the previous fortnight ended October 26, 2018, credit had grown by 14.57% to Rs 90.37 trillion, while deposits rose by 9.01% to Rs 117.71 trillion.
In September this year, non-food credit rose by 11.3%, as against an increase of 6.1% in same month last year.
Bank loans to the services sector expanded by 24%, compared with 7% in September 2017.
Personal loans rose by 15.1% in the month, against 16.8% last year.
Advances to agriculture and allied activities grew by 5.8%, same rate as in September 2017.
Credit to industry rose by 2.3% in September 2018, against a contraction of 0.4% in September 2017.
This story has been published from a wire agency feed without modifications to the text.
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