Bank credit up 6.02%, deposits rise 11.19% in June 9 fortnight: RBI

According to the data released by RBI, banks' credit growth grew at 6.02 per cent to Rs 76,58,212 crore in the fortnight ended June 9 from Rs 72,22,939 crore in the same period of fiscal 2016. 

The data showed that the growth in advances in the reporting period was slightly higher than the previous fortnight ended May 26, 2017. In the fortnight ended May 26, advances had grown by 5.08 per cent with an outstanding



loans at Rs 75,93,546 crore. 

In the fiscal ended March 31, 2017, credit growth had plunged to a multi-year low of 5.08 per cent with an outstanding loan at Rs 78.81 trillion as against Rs 75.01 trillion on April 1, 2016. In the reporting fortnight, bank deposits grew at 11.19 per cent to Rs 105,77,947 crore from Rs 95,13,148 crore in the fortnight ended June 10, 2016.