Bank credit grew 14.35 per cent to ₹ 94.03 lakh crore while deposits rose 10.16 per cent to ₹121.21 lakh crore in the fortnight to February 15, according to the RBI data on Thursday.

In the year-ago fortnight, deposits were at ₹ 110.02 lakh crore and advances at ₹ 82.23 lakh crore.

In the previous fortnight ending February 1, deposits grew 9.63 per cent to Rs 121.22 lakh crore and advances rose 14.53 per cent to ₹ 94.29 lakh crore.

Non-food credit increased 13.1 per cent year-on-year in January 2019 compared to a rise of 9.5 per cent in same period in 2018, the RBI data showed.

Advances to agriculture and allied activities registered a growth of 7.6 per cent in January as against 9.4 per cent in the year-ago month.

Loans to the services sector expanded 23.9 per cent, registering an increase of 13.2 per cent in January 2018.

Credit to industry rose by 5.1 per cent in January 2019 compared to an increase of 1.1 per cent in the same month last year.

Credit growth to infrastructure, chemical and chemical products, all engineering, food processing and petroleum, coal products & nuclear fuels accelerated.

However, credit growth to basic metals & metal products, textiles, and gems & jewellery contracted, as per the official data.

Personal loans growth slowed to 16.9 per cent in January from 20 per cent in January 2018.