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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.

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