Bank credit grows 17.2% YoY to Rs 129.48 trn in fortnight to Nov 18

Deposit growth rises 9.6%, analysts cite FPI flows, govt spending

Bank credit grew by 17.2 per cent year-on-year to Rs 129.48 trillion as on November 18, 2022, reflecting firm demand for loans, latest Reserve Bank of India data showed.

The credit growth was slightly higher than 17 per cent as on November 4.

Deposit growth was up 9.6 per cent YoY to Rs 172.95 trillion as on November 18, a significant rise from 8.2 per cent a fortnight ago, the RBI data showed.

The wide gap between deposits and credit has exerted pressure on banks to mobilise funds to finance aggressive loan growth. Over the past few months, banks have