Bank credit grows 11.62%, deposits at 11.02%

Mumbai: Bank credit growth continued to remain in double-digits clipping at 11.62 percent year-on-year to Rs 71,72,740 crore for the fortnight ending February 19, according to the Reserve Bank data. The outstanding loans of banks during the same period last year had stood at Rs 64,25,793 crore.

In the previous fortnight ended February 5, banks credit rose by 11.53 percent y-o-y with an outstanding loans at 71,53,426 crore.

Deposits grew by 11.02 percent at Rs 93,51,246 crore in the fortnight ended February 19 as against Rs 84,22,396 crore in the same period last year.

Growth in deposits in the fortnight ended February 19 was slower than the previous fortnight when deposits had grown by 11.30 percent.

Demand deposit rose 11.93 percent to Rs 8,49,644 crore from Rs 7,59,056 crore, while time deposit grew by 10.93 percent to Rs 85,01,596 crore from Rs 76,63,340 crore.