Continuing rising trend, scheduled commercial bank credit jumped in the fortnight ended June 22, 2018. As per the latest data from the Reserve Bank of India (RBI), banks’ credit growth increased 12.84% to Rs 86,16,408 crore as on June 22. Besides, in the year-ago fortnight, bank loans stood at Rs 76,35,689 crore.
The data also showed that the growth in advances was slightly higher than the growth registered in the previous fortnight ended June 8. It had risen by 12.67% to Rs 85,98,703 crore. During the period under review, bank deposits had risen by 7.59% to Rs 113,53,525 crore, compared with Rs 105,51,910 crore in the period ended June 23, 2017. The growth in deposits was slower than the period ended June 8, when it had increased by 8.35% to Rs 114,04,303 crore.
In May, non-food bank credit increased by 11.1% year-on-year, compared with an increase of 4.1% in May last year. Loans to industry rose by 1.4% in May 2018, against a contraction of 2.1% in May 2017. Advances to agriculture and allied activities increased 6.4% in May 2018, compared with an increase of 7.4% in May 2017.
