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Bank credit grows by 12.44 pct to INR 86,13,164 crore

In June 2018, the non-food bank credit rose 11.1 percent as against a rise of 4.8 percent in the same month last year.


PTI Last Updated at 05 Aug 2018, 11:08 IST India
Bank credit grows by 12.44 pct to INR 86,13,164 crore
  • Loans to agriculture and allied activities slowed 6.5 percent in June, compared to an increase of 7.5 percent in June 2017. (Image Credit: Twitter)

Bank credit grew by 12.44 percent to Rs 86,13,164 crore in the fortnight to July 20, according to the RBI data.

In the year-ago period, bank credit had stood at Rs 76,59,898 crore. Growth in advances during the reporting period was marginally lower than the increase registered in the fortnight to July 6, when loans increased by 12.78 percent to Rs 86,60,069 crore.

During the reporting fortnight, deposits increased by 8.15 percent to Rs 1,14,38,121 crore from Rs 1,05,75,615 crore a year ago, according to the data.

Deposit the growth, the pace was slower than that in the last fortnight ended July 6, 2018, when they had risen 8.33 percent to Rs 1,14,85,768 crore.

In June 2018, the non-food bank credit rose 11.1 percent as against a rise of 4.8 percent in the same month last year.

Loans to agriculture and allied activities slowed 6.5 percent in June, compared to an increase of 7.5 percent in June 2017.

Personal loan segment saw a growth of 17.9 percent in June, up from an increase of 14.1 percent last June. During the reporting month, advances to the industry rose 0.9 percent compared to a contraction of 1.1 percent in June 2017.

"Credit to major sub-sectors such as textiles, all engineering, food processing, chemical and chemical products, and cement and cement products accelerated," the apex bank said.

However, loans to basic metal and metal products, construction and gems and jewelry contracted in June 2018. The services sector witnessed a major increase in loans to the tune of 23.3 percent compared to an increase of 4.7 percent in June 2017.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

COUNTRY :
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