Bank credit grew 12.70 percent in fortnight to August 3

The increase in advances in the reporting fortnight was higher than the growth registered in the previous fortnight ending July 20 when it had risen by 12.44 percent to Rs 86,13,164 crore.

Bank credit grew 12.70 percent to Rs 86,79,741 crore in the fortnight to August 3, according to the latest RBI data. In the year-ago fortnight, bank advances were at Rs 77,01,926 crore.

The increase in advances in the reporting fortnight was higher than the growth registered in the previous fortnight ending July 20 when it had risen by 12.44 percent to Rs 86,13,164 crore. During the reporting fortnight, bank deposits grew by 8.21 percent to Rs 1,15,83,058 crore from Rs 1,07,04,112 crore in the period ending August 4, 2017, as per the data.

In June, the non-food credit rose 11.1 percent as against 4.8 percent in the same month last year. Loans to agriculture and allied activities slowed to 6.5 percent in June from 7.5 percent a year ago. Personal loan segment grew 17.9 percent in June up from 14.1 percent in June last year.

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