Bank credit grew 12.70 per cent to Rs 86,79,741 crore in the fortnight to August 3, according to the latest RBI data. In the the year-ago fortnight, bank advances was at Rs 77,01,926 crore. The increase in advances in the reporting fortnight was higher than the growth registered in the previous fortnight ending July 20 when it had risen by 12.44 per cent to Rs 86,13,164 crore. During the reporting fortnight, bank deposits grew by 8.21 per cent to Rs 1,15,83,058 crore from Rs 1,07,04,112 crore in the period ending August 4, 2017, as per the data. In June, the non-food credit rose 11.1 per cent as against 4.8 per cent in the same month last year. Loans to agriculture and allied activities slowed to 6.5 per cent in June from 7.5 per cent a year ago. Personal loan segment grew 17.9 per cent in June up from 14.1 per cent in June last year.
from The Economic Times https://ift.tt/2KUiCNq
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