Photo: Mint
Photo: Mint

Bank credit grows by 15.07%, deposits by 9.66%: RBI data

In the previous fortnight ended November 23, credit has risen by 15.09 percent to 91.32 trillion, while deposits surged 9.43 percent to 118.13 trillion

Mumbai: Bank credit rose at a healthy 15.07 percent to 92.03 trillion in the fortnight to December 7, while deposits grew 9.66 percent to 118.84 trillion, according to the latest RBI data.

In the year-ago fortnight, advances were at 79.98 trillion and deposits at 108.37 trillion.

In the previous fortnight ended November 23, credit has risen by 15.09 percent to 91.32 trillion, while deposits surged 9.43 percent to 118.13 trillion.

In October this year, non-food credit rose 13.4 percent compared to an increase of 6.6 percent in the same month last year. Credit to the services sector expanded 27.4 percent in the month compared to 9.4 percent a year ago.

Loans to agriculture and allied activities increased 8% in October compared to an increase of 5.5 percent in October last year.

Credit to the industry rose by 3.7 per cent in October 2018 as against a contraction of 0.2 per cent in October 2017.

Personal loans rose 16.8 percent in October as against 16 percent in October 2017, RBI data showed.

(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed)

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