Bank credit rose by 13.46 percent to Rs 87,98,812 crore in e fortnight ended September 14

Bank credit rose by 13.46 percent to Rs 87,98,812 crore in the fortnight ended September 14, according to the recent RBI data. In the year-ago fortnight, bank advances stood at Rs 77,54,406 crore.

In the fortnight ended August 31, 2018, bank loans had grown by 13.49 percent to Rs 87,89,259 crore. In the reporting fortnight, deposits rose by 8.58 percent to Rs 115,70,748 crore, from Rs 106,55,722 crore in the fortnight ended September 15, 2017, the RBI data showed.

Bank deposits had grown by 8.88 percent to Rs 116,45,870 crore in the fortnight ended August 31, 2018. In July 2018, non-food bank credit rose by 10.6 percent, compared with an increase of 5.3 percent in July 2017.

Loans to agriculture and allied activities rose by 6.6 percent in July, against an increase of 6.8 percent in the same month last year. Services sector advances expanded by 23 percent, compared with 4.9 percent, while personal loans rose by 16.7 percent, against 15 percent in July last year.