Bank credit grows by 5.98%; deposits by 9.66%

PTIUpdated: Friday, June 04, 2021, 10:51 PM IST
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Bank credit grows by 5.98%; deposits by 9.66% | pexels

Bank credit grew by 5.98 per cent to Rs 108.33 lakh crore while deposits rose by 9.66 per cent to Rs 151.67 lakh crore in the fortnight ended May 21, 2021, RBI data showed.

In the fortnight ended May 22, 2020, bank credit stood at Rs 102.22 lakh crore and deposits at Rs 138.29 lakh crore, according to RBI's Scheduled Banks' Statement of Position in India as on May 21, 2021, released on Friday.

In the previous fortnight ended May 7, advances grew by 6.02 per cent to Rs 108.69 lakh crore and deposits increased by 9.87 per cent to Rs 152.17 lakh crore.

In FY 2020-21, bank credit had grown by 5.56 per cent and deposits by 11.4 per cent.

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