Non-Food Credit Slips By Rs 35 Crore

Non-food credit offtake is showing signs of slowdown. After rising steadily during the last three fortnights, the credit has declined by Rs 35 crore during the fortnight ended May 31, compared with a rise of Rs 6,092 crore in the previous fortnight, ended on May 17.

In the reporting fortnight, food credit increased by Rs 1,876 crore compared with a growth of Rs 1,793 crore in the previous fortnight.

So far in this fiscal, non-food credit grew by Rs 51,513 crore compared with a decline of Rs 4,494 crore in the corresponding period of the previous fiscal. Food credit, too, edged up by Rs 6,691 crore (Rs 8,740 crore).

 

The outstanding non-food credit and food credit, as on May 31, stood at Rs 5,83,367 crore and Rs 60,669 crore, respectively.

The aggregate deposits of banks rose by Rs 11,959 crore during the reporting fortnight. While time deposits grew by Rs 8,745 crore, demand deposits increased by Rs 3,214 crore.

So far in this fiscal, aggregate deposits shot up by Rs 96,139 crore compared with a rise of Rs 41,981 crore in the corresponding period previous fiscal. In this period, demand deposits rose by Rs 4,480 crore (Rs 1,171 crore) in the corresponding period of the preceding fiscal. And time deposits were up by Rs 91,660 crore (Rs 43,152 crore).

The outstanding aggregate deposits, as on May 31, stood at Rs 11,96,593 crore.

Foreign exchange reserves, during the week ended June7, rose by $172 million to $56.320 billion.

The reserves were bolstered by the increase in foreign currency assets (FCAs) by $172 million to $ 53.062 billion. Gold reserves and special drawing rights (SDRs), however, remained static at $3.249 billion and $9 million, respectively.