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Bank loans up 7.21%, deposits up 9.51%: RBI

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In the fortnight ended January 17, bank loans registered a growth of 7.21 percent and deposits increased by 9.51 percent.

Mumbai
Bank loans and deposits grew 7.21 percent and 9.51 percent to Rs 100.05 lakh crore and Rs 131.26 lakh crore, respectively, in the fortnight ended 17 January. According to the Reserve Bank data, the bank loan was 93.32 lakh crore rupees, while deposits stood at Rs 119.85 lakh crore in the same period a year ago.
There was an increase in the last fortnight as well. Earlier, in the fortnight ended January 2, 2020, loans increased by 7.57 percent to Rs 100.44 lakh crore, while deposits increased by 9.77 percent to Rs 132.10 lakh crore. Non-food credit grew by 7 percent year-on-year in December 2019, compared to 12.8 percent in December 2018.

Service sector debt increased by 6.2%; Service sector debt increased

by 6.2 percent in December 2019, compared to a growth of 23.2 percent in the same period a year ago. According to the data, loans for agriculture and allied activities increased by 5.3 percent in December 2019, compared to 8.4 percent growth in the same month a year ago.

Personal loans increased by 15.9%

Personal debt grew 15.9 percent in the month under review, compared to a 17 percent increase in December 2018. Credit to the industry increased by 1.6 percent in December 2019 as compared to 4.4 percent in the same month a year ago.

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