Continuing rising trend, bank credit at scheduled commercial banks has gone up by 12.64% on year-on-year basis. According to the fortnightly data released by the Reserve Bank of India (RBI), bank’s credit stood at Rs 85,51,099 crore as on May 11, 2018 as compared with Rs 75,90,941 crore reported in the similar fortnight ended May 12, 2017.
The report showed that bank credit at all scheduled banks also witnessed a growth of 12.55% at Rs 88,09,300 crore as on May 11, 2018 as against Rs 78,26,709 crore reported in the similar fortnight ended May 12, 2017. Besides, in line with credit growth, the deposits also jumped at both scheduled commercial banks and all scheduled banks.
As per the RBI data report, the deposits at scheduled commercial banks surged by 7.61% to Rs 1,13,92,165 crore as on May 11, 2018 from Rs 1,05,86,083 crore in the fortnight ended May 12, 2017, while at all scheduled banks, deposits grew to Rs 1,16,92,937 crore in the fortnight ended May 11, 2018 from Rs 1,08,705,56 crore in the fortnight ended May 12, 2017, registering growth of 7.57%.