Bank Credit Grows By 5.82%, Deposits By 10.89% In Fortnight Ended November 20: RBI Data

Bank credit grew at 5.82 percent to Rs 104.34 lakh crore, while deposits rose by 10.89 percent to Rs 143.71 lakh crore in the fortnight ended November 20, the RBI data showed. In the fortnight ended November 22, 2019, bank credit stood at Rs 98.60 lakh crore and deposits at Rs 129.58 lakh crore.

In the previous fortnight ended November 6, advances grew by 5.67 percent and deposits by 10.63 percent. In October, non-food credit growth decelerated to 5.6 percent compared to a growth of 8.3 percent in the same month of the previous year.

Growth in loans to agriculture and allied activities accelerated to 7.4 percent in the month from a growth of 7.1 percent last year. Credit to industry contracted by 1.7 percent in October 2020 as compared with 3.4 percent growth in October 2019.

Growth in loans to the services sector accelerated to 9.5 percent in October 2020 from 6.5 percent in the same month of the previous year. During the month, personal loans registered a decelerated growth of 9.3 percent as compared with 17.2 percent growth in October 2019.