MUMBAI : Both bank credit and deposits slowed to 9.92% and 12.31% at 96.52 lakh crore and 125.40 lakh crore, respectively, for the fortnight ending June 7, according to the RBI data.

In the year-ago fortnight, bank credit was at 85.94 lakh crore while deposits were at 114.08 lakh crore. In the previous fortnight ending May 24, advances grew 12.70 percent to 96.22 lakh crore and deposits increased 10.09 percent to 124.98 lakh crore.

Non-food credit increased 11.9% in April from 10.7% in April 2018.

Loans to agriculture and allied activities rose 7.9% in April compared to 5.9 percent growth in the same month of 2018.

Advances to the services sector expanded 16.8% compared to an increase of 20.7 percent in April 2018. Personal loans growth slowed to 15.7 percent from 19.1 percent during the reporting month.

Credit to the industry rose 6.9% in April as against a meagre 1% growth in the year-ago period.

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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