Bank credit grows by 6.08%; deposits by 9.76%

Reserve Bank of India. Credit: PTI Photo

Bank credit grew by 6 per cent to Rs 109.31 lakh crore and deposits increased by 9.76 per cent to Rs 154.51 lakh crore in the fortnight ended July 2, 2021, RBI data showed.

Bank advances stood at Rs 103.04 lakh crore and deposits at Rs 140.77 lakh crore in the fortnight ended July 3, 2020, according to RBI's Scheduled Banks' Statement of Position in India as of July 2, 2021, released on Thursday.

In the previous fortnight ended June 18, 2021, bank credit had grown by 5.82 per cent and deposits by 10.32 per cent.

In FY2020-21, bank credit had grown by 5.56 per cent and deposits by 11.4 per cent.