Bank Credit Grows 5.51% and Deposits 11.11%, Shows Latest RBI Data

Bank credit and deposits grew 5.51 per cent and 11.11 per cent to Rs 102.65 lakh crore and Rs 141.61 lakh crore, respectively, in the fortnight ended July 31, according to the latest data from the RBI. In the fortnight ended August 2, 2019, bank credit and deposits were at Rs 97.29 lakh crore and Rs 127.44 lakh crore, respectively.

On a year-on-year (y-o-y) basis, non-food bank credit growth was at 6.7 per cent in June 2020, nearly the same as in May 2020 but lower than the growth of 11.1 per cent in June 2019. Credit growth to agriculture and allied activities rose 2.4 per cent in June, compared with a higher growth of 8.7 per cent in the corresponding month of 2019.