Commercial banks' credit grows 9% in a fortnight

Scheduled commercial banks' loans grew by 9.26 per cent to Rs 66,59,336 crore in the fortnight ended June 26, according to the Reserve Bank.
In the similar period last year, advances had stood at Rs 60,94,944 crore.
Deposits of the banks in the reporting period expanded by 11.38 per cent to Rs 87,98,535 crore as against Rs 78,99,337 crore in the year-ago period, RBI data showed.
In May, non-food credit growth of banks slowed to 9 per cent compared with an increase of 13 per cent in the same month last year, RBI had recently said in its data on sectoral deployment of bank credit.

Demand deposits of the banks rose by 8.67 per cent to Rs 8,14,645 crore in May from Rs 7,49,610 crore in the same period last year. Time deposits increased by 11.66 per cent to Rs 79,83,891 crore from Rs 71,49,728 crore in the year-ago period.