 "Bank credit increases 17% YoY to Rs 129 trillion in early November 17")
Bank credit rose 17 per cent year-on-year (YoY) to Rs 129.26 trillion as on November 4, reflecting robust offtake in the busy season.
However, it moderated from 17.9 per cent YoY growth till October 21. Sequentially, credit rose by Rs 0.43 trillion over Rs 128.83 trillion as on October 21, 2022, according to data released by the Reserve Bank of India.
The deposits of scheduled commercial banks in India grew by 8.25 per cent YoY to Rs 173.7 trillion as of November 4, 2022. The rate of deposit mobilisation moderated from 9.5 per cent YoY till October 21, 2022. The deposits grew by Rs 1.7 trillion over Rs 172 trillion as of October 21, 2022.
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