Bank credit grows by 5.93%, deposits rise by 11.06%: RBI
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The Reserve Bank of India (RBI) in its latest data has showed that bank credit grew 5.93 percent to Rs 107.05 lakh crore, while deposits rose 11.06 percent to Rs 147.98 lakh crore in the fortnight ended January 29, 2021. In the fortnight ended January 31, 2020, bank credit stood at Rs 101.05 lakh crore and deposits at Rs 133.24 lakh crore.
In the previous fortnight ended January 15, 2021, growth in bank credit was 6.36 percent, while deposits rose 11.41 percent. During the first nine months of the current fiscal, bank credit rose by 3.2 percent and deposits by 8.5 percent.
In December 2020, non-food credit growth of banks stood at 5.9 percent as compared to 7 percent in the same month of the previous year. During the reporting month, growth in credit to agriculture and allied activities accelerated to 9.4 percent from 5.3 percent in December 2019.
