For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Bank Loans And Deposits Grew Over 7% In 14 Days Amid Lockdown

By Staff
|

According to latest data from the Reserve Bank of India (RBI) for the fortnight ended 10 April, amid the nationwide lockdown to curb the spread of COVID-19, bank credit grew by 7.20 percent to Rs 103.39 lakh crore and deposits rose by 9.45 percent to Rs 137.14 lakh crore.

In the year-ago fortnight, bank advances had stood at Rs 96.44 lakh crore and deposits at Rs 125.30 lakh crore.

Bank Loans And Deposits Grew Over 7% In 14 Days Amid Lockdown
 

In the fiscal ended 31 March 2020, bank loans had decelerated to 6.14 percent, a near five-decade low, due to slower economic growth, lower demand and as banks remained risk averse.

Loan growth in FY20 was the slowest since the fiscal ended March 31, 1962, when it had increased by 5.38 per cent.

During the year, bank deposits grew by 7.93 percent to Rs 135.71 lakh crore as against Rs 125.73 lakh crore as per RBI data.

When compared with the previous fortnight which ended on 27 March 2020, bank credit grew by 0.3 percent in the fortnight ended on 10 April.

Similarly, the growth in deposits was just 1.1 percent between 28 March and 10 April when compared with the previous fortnight.

Read more about: banking loans deposits coronavirus
Story first published: Saturday, April 25, 2020, 15:47 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more