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Bank credit, deposits growth slow; non -food credit rises 11.9%: RBI
Jun-21-2019

The Reserve Bank of India (RBI) in its latest data has showed that both bank credit and deposits slowed for the fortnight ending June 7. Bank credit grew by 9.92 percent to Rs 96.52 lakh crore and deposits by 12.31 percent to Rs 125.40 lakh crore. Besides, Non-food credit increased 11.9 percent in April from 10.7 percent in April 2018.

In the year-ago fortnight, bank credit was at Rs 85.94 lakh crore, while deposits were at Rs 114.08 lakh crore. In the previous fortnight ending May 24, advances grew 12.70 percent to Rs 96.22 lakh crore and deposits increased 10.09 percent to Rs 124.98 lakh crore.

As per the data, loans to agriculture and allied activities rose 7.9 percent in April compared to 5.9 percent growth in the same month of 2018. Advances to the services sector expanded 16.8 percent compared to an increase of 20.7 percent in April 2018. Personal loans growth slowed to 15.7 percent from 19.1 percent during the reporting month. Credit to the industry rose 6.9 percent in April as against a meagre 1 percent growth in the year-ago period.

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