Bank credit grows at 10.32%, deposits at 6.66%

Banks' credit grew at 10.32 per cent year-on-year to Rs 86,50,714 crore in the fortnight ended March 30, 2018, according to an RBI data.

In the same fortnight ended March 31, 2017, the advances had stood at Rs 78,41,466 crore.

The growth in advances, however, was slower than the period ended March 16, 2018.

In previous fortnight, banks loan growth had grown at 11.13 per cent to Rs 83,77,444 crore from Rs 75,38,202 crore in the period ended March 17, 2017.

In the fornight ended March 30, 2018, the deposits had increased by 6.66 per cent to Rs 1,14,74,989 crore from Rs 1,07,57,656 crore in the year-ago period, the RBI data showed.

In February 2018, non-food bank credit increased by 9.8 per cent year-on-year basis as against an increase of 3.3 per cent in February 2017.

Credit to agriculture and allied activities increased by 9 per cent in February 2018, same as in February 2017.