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Bank credit by scheduled commercial banks to the commercial sector has

fallen by Rs 1,628 crore to Rs 3,68,293 crore during the fortnight ended

April 23, 1999. Aggregate deposits showed a marginal increase of Rs 531

crore to stand at Rs 7,25,521 crore, according to the latest weekly

statistical supplement released by the Reserve Bank of India.

The year-on-year (YoY) growth in bank credit was 14.5 per cent, while

deposits grew by 18.7 per cent.

A growth in time deposits by Rs 3,608 crore during the fortnight was

offset by a fall in demand deposits by Rs 3,078 crore.

Banks' investments in government and approved securities increased by

791 crore during the fortnight, to touch Rs 2,63,138 crore, registering

a YoY growth of 13.8 per cent. The investment-deposit ratio as of April

23 was 36.27.

Reserve money fell by Rs 4,232 crore during the week ended April 23 to

stand at 2,59,757 crore as on that date. Reserve money was growing YoY

at 19.9 per cent as of April 23.

Of the sources of reserve money, the fall during the week was mainly

accounted for by a decline in the net RBI credit to the government by Rs

5,393 crore.