Bank credit growth slumps to 10.24%, deposits at 9.73%, shows RBI data

Bank credit and deposits growth slowed to 10.24 per cent and 9.73 per cent to Rs 96.80 trillion and Rs 127.80 trillion , respectively, in the fortnight to August 30, show the latest RBI data.

In the year-ago fortnight, advances were at Rs 87.80 trillion while deposits stood at Rs 116.46 trillion .

In the previous fortnight to August 16, advances grew 11.64 per cent to Rs 96.82 trillion and deposits by 10.15 per cent to Rs 126.80 trillion .

In July, the non-food bank credit rose 11.4 per cent on year-on-year basis from 10.6 per cent in July 2018.