Bank credit grows 5.52% to Rs 102.2 trn in fortnight ended Aug 14: RBI data

Credit to the services sector continued to grow at a robust, albeit decelerated, rate at 10.7 per cent in June 2020 vis-a-vis 13 per cent in June 2019

Bank credit grew 5.52 per cent to Rs 102.19 trillion and deposits increased 11.04 per cent to Rs 140.80 trillion in the fortnight ended August 14, according to RBI data.

In the year-ago period, bank credit stood at Rs 96.84 trillion and deposit at Rs 126.8 trillion , respectively.

In the previous fortnight ended July 31, 2020, bank credit grew 5.51 per cent while deposits witnessed a growth of 11.11 per cent.

On a year-on-year (y-o-y) basis, non-food bank credit growth was at 6.7 per cent in June, nearly the same as in May. However, it was lower than the