Bank credit increases by 15.07%, deposits by 9.66%, says RBI data

Bank credit rose at a healthy 15.07 per cent to Rs 92.03 trillion in the fortnight to December 7, while deposits grew 9.66 per cent to Rs 118.84 trillion, according to the latest RBI data.
 
In the year-ago fortnight, advances were at Rs 79.98 trillion and deposits at Rs 108.37 trillion. In the previous fortnight ended November 23, credit has risen by 15.09 per cent to Rs 91.32 trillion, while deposits surged 9.43 per cent to Rs 118.13 trillion.

 
In October, non-food credit rose 13.4 per cent compared to an increase of 6.6 per cent in the same month last year. Credit to the services sector expanded 27.4 per cent in the month compared to 9.4 per cent a year ago.