Bank credit grows by 5.73%, deposits by 11.34%


In the fortnight ended December 6, 2019, bank credit had stood at โ‚น 99.35 lakh crore and deposits at โ‚น 131.06 lakh crore.

Bank credit grew by 5.73 % to โ‚น 105.04 lakh crore while deposits increased by 11.34 % to โ‚น 145.92 lakh crore in the fortnight ended December 4, the RBI data showed.

In the fortnight ended December 6, 2019, bank credit had stood at โ‚น 99.35 lakh crore and deposits at โ‚น 131.06 lakh crore.

In the previous fortnight ended November 20, credit grew by 5.82 % to โ‚น104.34 lakh crore and deposits by 10.89 % to โ‚น143.70 lakh crore.

In October, non-food credit growth decelerated to 5.6 % compared to a growth of 8.3 % in the same month of the previous year.

Growth in loans to agriculture and allied activities accelerated to 7.4 % in the month from a growth rate of 7.1 % last year.

Credit to industry contracted by 1.7 % in October 2020 as compared with 3.4 % growth in October 2019.

Growth in loans to the services sector accelerated to 9.5 % in October 2020 from 6.5 % in the same month of the previous year.

During the month, personal loans registered a decelerated growth of 9.3 % as compared with 17.2 % growth in October 2019.

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