Breaking News

You are here » Indian-Commodity  :  Economy  :  Bank credit growth increases 11.52%, deposits up 7.96%


Bank credit growth increases 11.52%, deposits up 7.96%

Credit growth of banks grew by 11.52 percent year-on-year to Rs 84,78,459 crore in the fortnight ended April 13, 2018. According to latest data from the Reserve Bank of India (RBI), the advances had stood at Rs 76,01,970 crore in the same fortnight ended April 14, 2017. In the previous fortnight ended March 30, 2018, banks loan growth had grown at 10.32 percent to Rs 86,50,714 crore from Rs 78,41,466  crore in the period ended March 31, 2017.

As per the data, it indicated that in the period ended April 13, the bank deposits increased by 7.96 percent to Rs 113,77,729 crore from Rs 105,38,304 crore in the year-ago period. It also showed that in the fortnight ended March 30, the deposits had increased by 6.66 percent to Rs 1,14,74,989 crore from Rs 1,07,57,656 crore in the year-ago period.

The data further highlighted that in February 2018, non-food bank credit increased by 9.8 percent on a year-on-year basis as against an increase of 3.3 percent in February 2017. It noted that credit to agriculture and allied activities increased by 9 percent in February 2018, same as in February 2017.

Related News

View all news

Suresh Prabhu reviews proposed agriculture export, new industrial policies

Commerce and Industry Minister Suresh Prabhu has reviewed proposed agriculture export policy and new industrial policies. He also scrutinized various export promotion strategies. He said that the government......

India needs to improve wage policies to promote inclusive growth: ILO

In order to promote inclusive growth in India, the International Labour Organisation (ILO) in its latest report title 'India Wage Report: Wage policies for decent work and inclusive growth' has stated......

Need to boost crop productivity using fewer resources to double farmers' income: Niti Aayog

In order to achieve the target of doubling farmers' income by 2022, the Niti Aayog member Ramesh Chand has said that there is a need to boost crop productivity using fewer resources. He also pointed out......

Top News

View all news

Uday Jewellery commences manufacturing activities at Hyderabad unit

Uday Jewellery Industries has commenced the manufacturing activities in premises situated at Hyderabad taken on lease for enhancement of its manufacturing capabilities for manufacture of specialty jewellery......

Strides Shasun's arm receives acceptance from USFDA for two key ANDAs

Strides Shasun's step-down wholly owned subsidiary, Strides Pharma Global, Singapore has received Abbreviated New Drug Application (ANDA) “acceptable for filing” correspondence from the United States Food......

IDBI Bank sells 3.90% stake in NSDL

IDBI Bank has sold 15,60,000 equity shares constituting 3.90% of the paid up capital of National Securities Depository (NSDL) on August 21, 2018.IDBI Bank is the youngest, new generation public sector......