Bank credit rose by 13.46 pc; deposits by 8.58 pc

Bank credit rose by 13.46 per cent to Rs 87,98,812 crore in the fortnight ended September 14, according to the recent RBI data. In the year-ago fortnight, bank advances stood at Rs 77,54,406 crore.

In the fortnight ended August 31, 2018, bank loans had grown by 13.49 per cent to Rs 87,89,259 crore.

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In the reporting fortnight, deposits rose by 8.58 per cent to Rs 115,70,748 crore, from Rs 106,55,722 crore in the fortnight ended September 15, 2017, the RBI data showed.

Bank deposits had grown by 8.88 per cent to Rs 116,45,870 crore in the fortnight ended August 31, 2018.

In July 2018, non-food bank credit rose by 10.6 per cent, compared with an increase of 5.3 per cent in July 2017.

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Loans to agriculture and allied activities rose by 6.6 per cent in July, against an increase of 6.8 per cent in the same month last year.

Services sector advances expanded by 23 per cent, compared with 4.9 per cent, while personal loans rose by 16.7 per cent, against 15 per cent in July last year.