Bank credit growth rises to 6.6% in fortnight to January 1, shows data

Bank credit rose 6.66 per cent (on a YoY basis) in the fortnight ended January 1, 2021, up from 6.1 per cent in the previous fortnight (December 18, 2020). The third quarter (Q3FY21) was marked by festive season, giving a push to credit demand.

Bank credit rose by Rs 1.57 trillion in the last fortnight of Q3FY21. The credit portfolio of banks stood at Rs 107.04 trillion, according to the RBI data. Credit had expanded by 7.6 per cent in the comparable fortnight ended January 3, 2020.

The deposits of scheduled commercial banks rose by 11.47 per cent (YoY basis) to Rs 147.26 trillion.