Business

Banks’ credit grows 7.1% to ₹99.47 lakh crore

Banks’ credit and deposits grew by 7.1% and 10.09% to ₹99.47 lakh crore and ₹130.08 lakh crore in the fortnight ended December 20, respectively, according to latest Reserve Bank data.

In the year-ago fortnight, banks’ advances stood at ₹92.87 lakh crore, while deposits were at ₹118.16 lakh crore.

In the previous fortnight ended December 6, credit had grown by 7.91% to ₹99.34 lakh crore and deposits had increased by 10.27% to ₹131.05 lakh crore. On a year-on-year basis, banks’ credit growth slowed to 7.2% to ₹86.73 lakh crore in November 2019 from a 13.8% increase to ₹80.93 lakh crore in the year-ago period.

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Printable version | Mar 29, 2020 6:25:52 PM | https://www.thehindu.com/business/banks-credit-grows-71-to-9947-lakh-crore/article30463392.ece

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