During the first nine months of the current fiscal, bank credit rose by 3.2 percent and deposits by 8.5 percent.
PTI
February 15, 2021 / 09:15 PM IST
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Bank credit grew 5.93 percent to Rs 107.05 lakh crore, while deposits rose 11.06 percent to Rs 147.98 lakh crore in the fortnight ended January 29, RBI data showed. In the fortnight ended January 31, 2020, bank credit stood at Rs 101.05 lakh crore and deposits at Rs 133.24 lakh crore.
In the previous fortnight ended January 15, 2021, growth in bank credit was 6.36 percent, while deposits rose 11.41 percent. During the first nine months of the current fiscal, bank credit rose by 3.2 percent and deposits by 8.5 percent.
In December 2020, non-food credit growth of banks stood at 5.9 percent as compared to 7 percent in the same month of the previous year, according to RBI data on Sectoral Deployment of Bank Credit for December 2020, released last month. During the reporting month, growth in credit to agriculture and allied activities accelerated to 9.4 percent from 5.3 percent in December 2019.
Loans to industry contracted by 1.2 percent as compared to 1.6 percent growth earlier, mainly due to contraction in credit to large industries by 2.4 percent as against 1.8 percent growth a year ago, the data showed. Personal loans registered a decelerated growth of 9.5 percent in the reporting month as compared with 15.9 percent growth in December 2019.
