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Bank credit at scheduled commercial banks rises by 10.26%: RBI

27 Sep 2019 Evaluate

Bank credit at scheduled commercial banks has gone up by 10.26 per cent on year-on-year basis. According to the fortnightly data released by the Reserve Bank of India (RBI), credit stood at Rs 97.01 lakh crore in the fortnight ended September 13, 2019 as compared with Rs 87.98 lakh crore reported in the fortnight ended September 14, 2018.

The report further showed that bank credit at all scheduled banks also witnessed a growth to stand at Rs 99.84 lakh crore as against Rs 90.59 lakh crore.  Besides, in line with credit growth, the deposits also jumped at both scheduled commercial banks and all scheduled banks.

As per RBI data report, the deposits at scheduled commercial banks surged to Rs 127.22 lakh crore from Rs 115.63 lakh crore in the fortnight ended September 13, 2019, while at all scheduled banks, deposits grew to  Rs 130.68 lakh crore in the same fortnight.