Bank credit rise 5.06 pc, deposits up by 10.12 pc: RBI data

Non-food bank credit growth decelerated to 5.8 per cent in September 2020 from 8.1 per cent in the same month previous year, according to the data. Credit to industry recorded 'nil' growth in September 2020 as compared to 2.7 per cent growth in the year-ago period.

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 in the fortnight ended October 23, according to the RBI data. In the fortnight ended October 25, 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 October 9, 2020, bank credit had risen 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, according to the data.

Credit to industry recorded 'nil' growth in September 2020 as 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 2019.