Bank credit rises by 12.51%, deposits by 8.07%

Mumbai: Bank credit rose by 12.51 per cent to Rs 89.82 lakh crore in the fortnight ended September 28, while the deposits grew by 8.07 per cent to Rs 117.99 lakh crore, according the RBI data. In the year-ago fortnight, advances stood at Rs 79.83 lakh crore, while the deposits at Rs 109.17 lakh crore.

In the fortnight ended September 14, bank credit had risenby 13.46 per cent to Rs 87.98 lakh crore, while the deposits grew by 8.58 per cent to Rs 115.70 lakh crore. In August this year, non-food credit rose by 12.4 per cent, as against an increase of 5.5 per cent in the year-ago month, the RBI data showed.

Advancesto industry rose by 1.9 per cent in August, against a contraction of 0.3 per cent in August 2017. Bank loans toagriculture and allied activities were up by 6.6 per cent, compared with an increase of 6.5 per cent in the same month last year.

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Credit to the services sector expanded by 26.7 per cent, against 5 per cent last year.Personal loans rose by 18.2 per cent in August 2018, compared with 15.7 per cent in August 2017.