Bank credit grows 14.6%
Indicating continued revival in economic activities, bank credit grew at a robust pace of 14.6 per cent in the fortnight to October 26, although deposits lagged behind and fell 9 per cent, according to latest data from the RBI.
Bank credit grew by ₹40,740 crore to ₹90.33 lakh crore as on October 26 this year, according to the RBI’s weekly statistical supplement. Of this, non-food credit grew ₹31,230 crore to ₹89.79 lakh crore, while food credit rose ₹9,510 crore to ₹ 55,030 crore. However, bank deposits fell by ₹15,050 crore to ₹117.71 lakh crore in the two weeks to October 26.