Bank credit up 12%, deposits 10.6%; non-food credit increases 11.1%

Bank credit and deposits rose by 12.01 percent and 10.59 percent to Rs 96.57 trillion and Rs 126.491 trillion respectively for the fortnight to July 19, show the RBI data.

In the year-ago fortnight, bank credit stood at Rs 86.09 trillion while deposits were at Rs 114.371 trillion.

In the previous fortnight ending July 5, bank loans had grown by 12.02 percent to Rs 96.97 trillion and deposits by 10.32 percent to Rs 126.746 trillion.

Non-food credit, on a year-on-year basis, increased 11.1 percent in June same as the year-ago period. Loans to agriculture & allied activities was up by 8.7 percent in June 2019 as compared with an increase of 6.5 percent in June 2018.

Services sector advances decelerated to 13 percent in June from 23.3 percent in the same month of 2018.

Personal loans increased by 16.6 percent in June down from an increase of 17.9 per cent in June 2018.