Bank Credit Grows 6.18 %, Deposits 11 %: RBI data

Bank credit and deposits grew 6.18 per cent and 11 per cent to Rs 102.45 lakh crore and Rs 138.67 lakh crore, respectively, in the fortnight ended June 19, according to the RBI.

In the fortnight ended June 21, 2019, bank credit had stood at Rs 96.48 lakh crore and deposits at Rs 124.92 lakh crore.  In the previous fortnight that ended on June 5 this year, advances had grown 6.24 per cent and deposits by 11.28 per cent.  Rating agency Crisil in a recent report said bank credit growth is likely to nosedive to a multi-decadal low of 0-1 per cent in 2020-21 as economic activity is sharply impacted by the Covid-19 pandemic.