Bank credit rose by 13.49%; de­posits by 8.9%

Financial Chronicle - - PLAN, POLICY -

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.

Loans to agri­cul­ture and al­lied ac­tiv­i­ties rose by 6.6 per cent in July in com­par­i­son with an in­crease of 6.8 per cent in the same month last year.

The ser­vices sec­tor advances ex­panded by 23 per cent in July as com­pared with that of 4.9 per cent in July 2017.

Per­sonal loans rose by 16.7 per cent in July 2018, up from an in­crease of 15 per cent in July 2017.

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