Bank credit increases 9.4%

Deposits up by 11.5% to Rs 89,392 cr

For another fortnight, bank credit continued to grow in single digits. According to the Reserve Bank of India (RBI) data, credit in the system grew 9.4 per cent to about Rs 66,716 crore at the end of August 7 from Rs 61,003 crore a year ago.

In the same period, deposits also inched up by about 11.5 per cent to Rs 89,392 crore from Rs 80,155 crore a year ago.

According to bankers, even though a pick-up in loan growth will happen due to the festival season, it might not be significant.