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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.

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