Bank credit expands by 6.13 percent, in the fortnight that ended on July 3: RBI data

Bank credit and deposits inflated by 6.13 percent and 11.04 percent to Rs 102.91 lakh crore and Rs 140.75 lakh crore, respectively, in the fortnight ended on July 3, according to the Reserve Bank of India data. In the fortnight ended on July 5, 2019, bank loans were reported at Rs 96.97 lakh crore and deposits at Rs 126.75 lakh crore, as per the data.

RBI

In the previous fortnight ended June 19, 2020, bank credit had expanded by 6.18 percent and deposits at 11 percent.

For the month of May, the non-food credit growth slowed down to 6.8 percent year-on-year from 11.4 percent in the same period in the previous year, as per RBI’s data.

The outstanding incremental non-food credit was reported at Rs 90.3 lakh crore as of May 22, 2020 as compared to Rs 84.51 lakh crore on May 24, 2019.

Bank loan growth to industry went down to 1.7 percent in May 2020 from 6.4 percent in the corresponding month last year.

Also Read: RBI central board meet to discusses COVID-19 challenges

Loan growth to the services sector declined to 11.2 percent in May from 14.8 percent in the corresponding period the previous year.

Personal loan growth went to 10.6 percent in May 2020 from 16.9 percent in May 2019, showed the RBI  data.

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