Bank credit rises to over ₹120.46 lakh cr, deposits jump by 9.7%: RBI data
The credit was at ₹119.56 lakh crore in the fortnight ending 22nd April 2022. Meanwhile, in the fortnight ending 7th May 2021, bank credit stood at ₹108.67 lakh crore.
PremiumBank credit rises by 10.82% on a year-on-year basis in the latest fortnight ending 6th May 2022, to over ₹120.46 lakh crore, the latest RBI data showed on Thursday.
The credit was at ₹119.56 lakh crore in the fortnight ending 22nd April 2022. Meanwhile, in the fortnight ending 7th May 2021, bank credit stood at ₹108.67 lakh crore.
Under the bank credit, RBI's data showed that loans, cash credits and overdrafts stood rose to ₹180.08 lakh crore in the fortnight ending 6th May 2022, compared to ₹117.17 lakh crore of the previous fortnight and ₹106.67 lakh crore in the fortnight ending 7th May 2021.
Bank deposits recorded a growth of 9.71% to ₹166.95 lakh crore in the fortnight ending 6th May 2022 compared to ₹152.17 lakh crore in the 7th May 2021 fortnight. Deposits stood at ₹166.23 lakh crore in the fortnight ending 22nd April 2022.
As of 6th May 2022, the food credit outstanding of scheduled commercial banks jumped to ₹55,487.15 crore compared to ₹42,552.09 crore in the fortnight ending 22nd April 2022. However, the latest food credit declined from ₹85,094.17 crore in the fortnight ending 7th May 2021.
"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!
