Bank credit up 3% in Oct-Nov

Statistics released by the Reserve Bank of India (RBI) indicate that overall bank credit went up 3.1 per cent during October-November, 2012, as compared to the outstanding credit as on October 5, 2012.

Total bank credit of scheduled commercial banks stood at Rs 49,590 billion (Rs 49.59 lakh crore) as on November 30, 2012, compared to Rs 48,093 billion (Rs 48.09 lakh crore) as on October 5, 2012.

Deposits at Rs 78,700 crore were marginally up, compared to Rs 77,700 crore. Banks held cash of Rs 47,000 crore as on November 30, 2012, compared to Rs 39,100 crore as on October 5, 2012.

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