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Bank credit grows at 16.1% to Rs 134.17 trillion in Feb 10 fortnight

About a month ago (January 13 fortnight), credit growth stood at 16.5 per cent YoY

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Currently, the credit-deposit growth gap has contracted to 590 basis points (bps) from over 800 bps earlier but still remains quite high

Subrata Panda Mumbai
The banking system credit grew 16.1 per cent year-on-year (YoY) in the fortnight ended February 10 to Rs 134.17 trillion, latest data released by the Reserve Bank of India (RBI) showed.

About a month ago (January 13 fortnight), credit growth stood at 16.5 per cent YoY.

The growth is significantly higher than the year-ago period when the banking system credit growth was hovering around the 9 per cent mark. 

Growth had moderated to as low as 14.9 per cent YoY in the fortnight ended December 30 due to base effect, but subsequently picked up as the base effect eased out.

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First Published: Feb 24 2023 | 7:47 PM IST

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