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Bank credit rose by 13.49%; deposits by 8.9%
Mumbai: Bank credit grew by 13.49 per cent to Rs 87,89,259 crore in the fortnight ended August 31, according to recent RBI data.
In the year-ago fortnight, bank advances was at Rs 77,44,237 crore.
In the reporting period, the growth in advances was higher than the previous fortnight ended August 17, 2018, when it had grown at 12.94 per cent to Rs 86,75,129 crore. In the fortnight ended August 31, 2018, deposits grew by 8.88 per cent to Rs 116,45,870 crore from Rs 106,96,099 crore in the fortnight ended September 1, 2017, the RBI data showed.
Deposits grew at 8.31 per cent to Rs 106,28,428 crore in the fortnight ended August 18, 2017. In July 2018, non-food bank credit rose by 10.6 per as compared with an increase of 5.3 per cent in July 2017. (PTI)