Bank credit growth continued to remain in double-digits clipping at 11.62 per cent year-on-year to Rs71,72,740 crore for the fortnight ending February 19, according to the Reserve Bank data. The outstanding loans of banks during the same period last year had stood at Rs64,25,793 crore.
In the previous fortnight ended February 5, banks credit rose by 11.53 per cent y-o-y with an outstanding loans at 71,53,426 crore. Deposits grew by 11.02 per cent at Rs93,51,246 crore in the fortnight ended February 19 as against Rs84,22,396 crore in the same period last year.
Growth in deposits in the fortnight ended February 19 was slower than the previous fortnight when deposits had grown by 11.30 per cent. Demand deposit rose 11.93 per cent to Rs8,49,644 crore from Rs7,59,056 crore, while time deposit grew by 10.93 per cent to Rs 85,01,596 crore from Rs76,63,340 crore.