Bank credit grows 12% to Rs 85 trillion in fortnight ended Apr 13: RBI

Bank credit grows 12% to Rs 85 trillion in fortnight ended Apr 13: RBI

Mumbai, Apr 26: Banks’ credit rose 11.52 per cent year-on-year to Rs 85 trillion (Rs 84,78,459 crore) in the fortnight ended April 13, the Reserve Bank of India (RBI) data showed.
In the same period ended April 14, 2017, banks advances were at Rs 76 trillion (Rs 76,01,970 crore).
In the previous fortnight ended March 30, 2018, banks loans grew by 10.32 per cent to Rs 86.5 trillion (Rs 86,50,714 crore) from Rs 78.4 trillion (Rs 78,41,466 crore) in the period ended March 31.
Deposits grew at 7.96 per cent to Rs 114 trillion (Rs 113,77,729 crore) in the period ended April 13, as against Rs 10.54 billion (Rs 105,38,304 crore) in the year-ago fortnight, according to the data.
In the fortnight ended March 30, the deposits had increased by 6.66 per cent to Rs 114 trillion (Rs 114,74,989 crore) from Rs 107 trillion (Rs 107,57,656 crore) in the year-ago period.
In February 2018, non-food bank credit increased by 9.8 per cent on a year-on-year basis as against an increase of 3.3 per cent in February 2017.
Credit to agriculture and allied activities increased by nine per cent in February 2018, same as in February 2017.