Breaking News

You are here » Indian-Commodity  :  Economy  :  Bank credit surges 12.7% in fortnight ended August 3

17-Aug2018

Bank credit surges 12.7% in fortnight ended August 3

The Reserve Bank of India (RBI) in its latest data has showed that Bank credit surged by 12.70 percent to Rs 86,79,741 crore in the fortnight to August 3,2018. In the year-ago fortnight, bank advances was at Rs 77,01,926 crore. The increase in advances in the reporting fortnight was higher than the growth registered in the previous fortnight ending July 20 when it had risen by 12.44 percent to Rs 86,13,164 crore.

During the reporting fortnight, bank deposits grew by 8.21 percent to Rs 1,15,83,058 crore from Rs 1,07,04,112 crore in the period ending August 4, 2017. In June, the non-food credit rose 11.1 percent as against 4.8 percent in the same month last year. Loans to agriculture and allied activities slowed to 6.5 percent in June from 7.5 percent a year ago. Personal loan segment grew 17.9 percent in June up from 14.1 percent in June last year.

In the fortnight ended June 22, 2018, RBI's data had highlighted that Bank credit grew by 12.84 per cent to Rs 86,16,408 crore in the fortnight ended June 22. In the year-ago fortnight, bank loans stood at Rs 76,35,689 crore. The growth in advances was slightly higher than the growth registered in the previous fortnight ended June 8. It had risen by 12.67 per cent to Rs 85,98,703 crore.


Related News

View all news

Complete turnaround two years away for PSBs despite capital infusion: Moody's

After the government announced Rs 48,239 crore capital infusion into 12 public sector banks (PSBs) in this fiscal to help them maintain regulatory capital requirements and finance growth plans, global......

Finance Ministry to recapitalise 12 PSBs with capital infusion of Rs 48,239 crore

In a bid to take public sector banks (PSBs) out of Reserve Bank of India's (RBI) prompt corrective action framework, the Finance Ministry has decided to recapitalise 12 PSBs with capital infusion of Rs......

FDI falls 7% to $33.49 billion during April-December of FY19

The Commerce and industry ministry in its latest data has showed that in the first nine months (April-December) of current financial year (FY19) Foreign direct investment (FDI) into India contracted by......

Top News

View all news

Syndicate Bank enters into partnership with Srei Equipment Finance

Syndicate Bank has entered into partnership with Srei Equipment Finance to jointly provide financing for construction and farm equipment. Under the arrangement, Syndicate Bank would leverage on its low-cost......

Tata Motors to supply 80 Electric buses to West Bengal Transport Corporation

Tata Motors will supply 80 Electric buses to the West Bengal Transport Corporation (WBTC). The company has already supplied 20 Ultra Electric 9/9m AC E-buses, with remaining 20 9/9m AC E-buses scheduled......

BEL signs teaming agreement with Hughes India for Helicopter Satcom Solutions

Bharat Electronics (BEL) and Hughes India have entered into a Teaming Agreement for design, development, supply, installation, integration and commissioning of Satellite Communication solutions for helicopters......