Bank Credit Rises 5.15% in Fortnight Ended September 25: RBI Data
A security guard's reflection is seen next to the logo of the Reserve Bank Of India (RBI) at the RBI headquarters in Mumbai. (Image: Reuters)
Bank credit grew by 5.15 per cent to Rs 102.72 lakh crore, and deposits rose by 10.51 per cent to Rs 142.64 lakh crore in the fortnight ended September 25, according to RBI data. In the fortnight ended September 27, 2019, bank credit was Rs 97.68 lakh crore and deposits stood at Rs 129.06 lakh crore.
In the previous fortnight ended September 11, 2020, bank credit had increased by 5.26 per cent to Rs 102.24 lakh crore, and deposits surged by 11.98 per cent to Rs 142.48 lakh crore. On a year-on-year basis, non-food bank credit growth decelerated to 6 per cent in August as against 9.8 per cent in the same month last year.
Loans to agriculture and allied activities rose 4.9 per cent in the reporting month as compared to a growth of 6.8 per cent in August last year. Credit growth in the services sector decelerated to 8.6 per cent from 13.3 per cent in the same month last year.
Growth in industry advances decelerated to 0.5 per cent in August 2020 from 3.9 per cent last year. Personal loans continued to perform well, registering a growth of 10.6 per cent in August 2020 as compared to 15.6 per cent growth in the year-ago period.