Breaking News

You are here » Indian-Commodity  :  Top News  :  Bank credit growth increases 14.5%, deposits up 9.63%

14-Feb2019

Bank credit growth increases 14.5%, deposits up 9.63%

The Reserve Bank of India (RBI) in its latest report has showed that bank credit growth increased by 14.5 percent at Rs 94.29 lakh crore, while deposits grew at a tepid 9.63 percent to Rs 121.22 lakh crore for the fortnight ending February 1. Though, both credit and deposits growth of bank declined marginally on a fortnightly basis.

In the previous fortnight ended January 18, credit had increased by 14.61 percent to Rs 93.32 lakh crore and deposits grew by 9.69 percent to Rs 119.86 lakh crore. The decline was mainly driven by the poor show by agriculture and allied activities and the personal loans during the week.

While credit demand from agriculture and allied activities grew by 8.4 percent in December 2018, compared to an increase of 9.5 percent in December 2017, industrial credit rose by 4.4 percent in December 2018 over 2.1 percent in the year-ago month.

Similarly non-food credit also increased faster at 12.8 percent year-on-year basis in December 2018 compared to a 10 percent growth in the same month last year. In the reporting month, credit to the services sector almost doubled to 23.2 percent as against 14.7 percent year- ago period but personal loans growth decelerated to 17 percent from 18.9 percent.


Related News

View all news

Turmeric futures trade higher on rising demand

Turmeric futures traded higher on NCDEX as market participants enlarged their holdings on account of rising demand for standing crop in the physical market. Moreover, government procurement in some states......

Coriander futures trade up on restricted arrivals

Coriander futures traded up on NCDEX as speculators built up fresh positions amid rising spot demand. Besides, tight stocks on account of restricted arrivals from major growing regions also fuelled the......

Cotton futures trade down on profit booking

Cotton futures traded down on MCX on profit booking after prices gained on reports of lower production in major growing regions. However, increased demand for crop from major cotton consumers, trimmed......

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......