The Reserve Bank of India (RBI) in its latest data has showed that bank credit rose by 12.01 percent to Rs 96.57 trillion, while deposits grew 10.59 percent to Rs 126.491 trillion in the fortnight ended on July 19. In the year ago fortnight, deposits were at Rs 114.371 trillion and advances stood at Rs 86.09 trillion.
In the previous fortnight to July 5, credit had increased by 12.02 percent to Rs 96.97 trillion and deposits grew by 10.32 percent to Rs 126.746 trillion. On a year-on-year basis, Non-food credit increased 11.1 percent in June 2019 same as the year-ago period. Loans to agriculture & allied activities was up by 8.7 percent in June 2019 as compared with a rise of 6.5 percent in June 2018.
Services sector advances decelerated to 13 percent in June 2019 from 23.3 percent in the same month last year. Personal loan growth slowed to 16.6 percent in June 2019 from 17.9 percent in the year ago period.