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Last Updated : Jul 02, 2020 07:34 PM IST | Source: PTI

Bank credit grows 6.18%, deposits 11% in fortnight ended June 19

In the fortnight ended June 21, 2019, bank credit had stood at Rs 96.48 lakh crore and deposits at Rs 124.92 lakh crore.

PTI
Representative image
Representative image

Bank credit and deposits grew 6.18 percent and 11 percent to Rs 102.45 lakh crore and Rs 138.67 lakh crore, respectively, in the fortnight ended June 19, according to the RBI.

In the fortnight ended June 21, 2019, bank credit had stood at Rs 96.48 lakh crore and deposits at Rs 124.92 lakh crore.

In the previous fortnight that ended on June 5 this year, advances had grown 6.24 percent and deposits by 11.28 percent.

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Rating agency Crisil in a recent report said bank credit growth is likely to nosedive to a multi-decadal low of 0-1 percent in 2020-21 as economic activity is sharply impacted by the COVID-19 pandemic.

For May, the non-food credit growth decelerated to 6.8 percent YoY from 11.4 percent in the corresponding period of the previous year, RBI data had shown.

The outstanding incremental non-food credit stood at Rs 90.3 lakh crore as of May 22, 2020, against Rs 84.51 lakh crore on May 24, 2019.

Bank loan growth to industry decelerated to 1.7 percent in May from 6.4 percent in the corresponding month last year.

Loan growth to the services sector slowed down to 11.2 percent in May, compared with 14.8 percent a year ago.

Personal loans growth decelerated to 10.6 percent in May 2020, against 16.9 percent in May 2019, RBI data showed.
First Published on Jul 2, 2020 07:25 pm
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