Credit offtake up 18 per cent

The offtake was Rs 36.65 lakh crore during the 12 months to November 19, 2010.
The annualised credit growth, however, had been above the 19 per cent mark from August.

But, it declined to 18.5 per cent during the fortnight ending November 4 which, experts said, was on account of the high interest rate regime in view of inflation.

Meanwhile, deposits rose to over Rs 58.06 lakh crore as on November 18, as against Rs 49.97 lakh crore as of November 19, 2010. This is a growth of 16.2 per cent. In its first quarterly monetary policy review for FY’12, RBI had said that credit growth would slow down due to its rate hikes.