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

P-notes investment jumps to Rs 78,110 crore at March-end

With positive market sentiments, the share of foreign portfolio investments (FPI) in domestic capital markets through participatory notes (P-notes) jumped to Rs 78,110 crore at the end of March. According......

India's steel demand may grow above 7% in 2019, 2020: World Steel Association

The World Steel Association in its latest report 'Short Range Outlook April 2019' has said India's steel demand is likely to grow above 7 per cent in the current year (2019) as well as next year (2020).......

India likely to receive 'near normal' monsoon in 2019: IMD

Easing concerns over farm and economic growth in the country, the India Meteorological Department (IMD) in Long Range Forecast for 2019 southwest monsoon rainfall stated that the country is likely to have......

Top News

View all news

Quess Corp, Ashoka Buildcon and ICICI Bank to see some action today

Quess Corp's subsidiary Conneqt Business Solutions has signed definitive agreements to acquire a majority stake in Allsec Technologies. The transaction involves Conneqt purchasing 35.35% from the promoters,......

Quess Corp's arm to acquire majority stake in Allsec Technologies

Quess Corp's subsidiary -- Conneqt Business Solutions has signed definitive agreements to acquire a majority stake in Allsec Technologies. The transaction involves Conneqt purchasing 35.35% from the promoters,......

Ashoka Buildcon's JV receives LoA from Rail Vikas Nigam

Ashoka Buildcon's Joint Venture (JV) -- ABL-STS JV, wherein the Company is lead member, has received a Letter of Award (LoA) from Rail Vikas Nigam (RVNL). The accepted Bid Value of the Project is Rs 443.23......