The Reserve Bank of India (RBI) in its latest report has showed that bank credit and deposits slowed to 10.24 percent and 9.73 percent to Rs 96.80 trillion and Rs 127.80 trillion, respectively in the fortnight to August 30. In the previous fortnight to August 16, credit had increased by 11.64 percent to Rs 96.82 trillion and deposits grew by 10.15 percent to Rs 126.80 trillion. In the year-ago fortnight, advances stood at Rs 87.80 trillion and deposits at Rs 116.46 trillion.
On year-on-year basis, the non-food bank credit rose 11.4 percent in July 2019 from 10.6 percent in July 2018. Advances to the services sector decelerated to 15.2 percent in the month from 23 percent in the year-ago month.
Credit to agriculture & allied activities rose 6.8 percent in July 2019 compared with a rise of 6.6 percent in the same month last year. Loans to industry increased by 6.1 percent in July as compared to 0.3 percent a year ago. Personal loans rose 17 percent in July compared to an increase of 16.7 percent in July 2018.