Bank credit grows 5.51%, deposits 11.11%: Reserve Bank of India data

Bank credit and deposits grew 5.51 per cent and 11.11 percent to Rs 102.65 lakh crore and Rs 141.61 lakh crore, respectively, in the fortnight ended July 31, according to the latest data from the RBI.

In the fortnight ended August 2, 2019, bank credit and deposits were at Rs 97.29 lakh crore and Rs 127.44 lakh crore, respectively.

On a year-on-year (y-o-y) basis, non-food bank credit growth was at 6.7 percent in June 2020, nearly the same as in May 2020 but lower than the growth of 11.1 percent in June 2019.

Credit growth to agriculture and allied activities rose 2.4 percent in June, compared with a higher growth of 8.7 percent in the corresponding month of 2019.

Loan growth to industry grew 2.2 percent in June 2020, compared with 6.4 percent growth in June 2019. Credit to large industries increased 3.7 percent, against 7.6 percent a year ago.

Credit to the services sector continued to grow at a robust, albeit decelerated rate at 10.7 percent in June 2020 as against 13 percent in June 2019.

Personal loans continued to perform well registering a growth of 10.5 percent in June, nearly the same as in May but lower than 16.6 percent growth in June 2019.