Bank credit grew by 5.67 per cent to Rs 104.04 lakh crore, while deposits increased by 10.63 per cent to Rs 143.80 lakh crore in the fortnight ended November 6, according to RBI data. In the fortnight ended November 8, 2019, bank credit stood at Rs 98.46 lakh crore and deposits at Rs 129.98 lakh crore. In the previous fortnight ended October 23, 2020, bank credit had risen by 5.06 per cent and deposits by 10.12 per cent.
On a year-on-year basis, non-food bank credit growth decelerated to 5.8 per cent in September 2020 from 8.1 per cent in the same month of the previous year, according to the central bank data. Credit to industry recorded ‘nil’ growth in September 2020 as compared to 2.7 per cent rise in September 2019. Credit to agriculture and allied activities rose by 5.9 per cent during the reporting month, as against a growth of 7 per cent in the same month last year. Loan growth to the services sector accelerated to 9.1 per cent in September 2020 from 7.3 per cent in September 2019. Personal loans registered a growth of 9.2 per cent in the month compared to 16.6 per cent growth in September 2019.
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