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Economy

Bank Credit Grows by 7.86%; Deposits by 9.11%: RBI Data

In the fortnight ended February 11, bank credit increased by 7.86% to Rs 115.45 lakh crore (US$ 1.53 trillion), while deposits increased by 9.11% to Rs 161.28 lakh crore (US$ 2.14 trillion), according to RBI data.

By Kautilya / March 3, 2022

In the fortnight ended February 11, bank credit increased by 7.86% to Rs 115.45 lakh crore (US$ 1.53 trillion), while deposits increased by 9.11% to Rs 161.28 lakh crore (US$ 2.14 trillion), according to RBI data. According to the Reserve Bank of India’s Scheduled Banks’ Statement of Position in India as of February 11, bank advances were Rs 107.03 lakh crore (US$ 1.42 trillion) and deposits were Rs 147.81 lakh crore (US$ 1.96 trillion) in the week ending February 12, 2021.

Bank credit increased by 8.21% and deposits increased by 8.31% in the previous fortnight, which concluded on January 28. Bank credit increased by 5.56 % and deposits increased by 11.4% in FY2020-21.

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