Bank Credit Rose 5%; Deposits Up 10%: RBI Data

In the fortnight dated 23 October, bank credit grew by 5.06 percent to Rs 103.39 lakh crore, while deposits rose by 10.12 percent to Rs 142.92 lakh crore, according to the RBI data. In comparison, in the fortnight ended 25 October 2019, bank credit had stood at Rs 98.40 lakh crore, and the deposit was Rs 129.78 lakh crore.

In the previous fortnight ended 9 October 2020, bank credit rose by 5.66 percent and deposits by 10.55 percent.

Non-food bank credit growth decelerated to 5.8 percent in September 2020 from 8.1 percent in the same month previous year, data showed.

Credit to industry recorded 'nil' growth in September 2020 when compared to 2.7 percent growth in the year-ago period.

Credit to agriculture and allied activities rose by 5.9 percent during the reporting month as against a growth of 7 percent a year ago.

Loan growth in the services sector accelerated to 9.1 percent in September 2020 from 7.3 percent in the same month last year.

Personal loans registered a growth of 9.2 percent in the month as compared to 16.6 percent growth in September.