Bank credit grew by 10% in first 6 months of fiscal
Mumabi: Bank credit grew by 10 percent to Rs 57.94 lakh crore in the first six months of the current fiscal.
During the same period of the previous fiscal, the rate of growth was 3.4 percent, RBI said in a data released today.
At the same time, deposits increased about 9.3 percent to Rs 73.77 lakh crore for the period ended September 20. The growth rate in deposit was 6.5 percent a year earlier.
Banks' investments in securities grew about 8.9 percent to Rs 21.84 lakh crore during March-end to September 20 compared with 12.1 percent in the same period of the previous year.