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.
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