Bank credit grows 9.16%, deposits up 10.28%

Mumbai, Jan 14: Bank credit grew 9.16 percent to Rs 116.83 lakh crore and deposits rose 10.28 percent to Rs 162.41 lakh crore for the fortnight ended December 31, 2021, RBI data showed.

For the fortnight ended January 1, 2021, bank credit stood at Rs 107.02 lakh crore and deposits at Rs 147.26 lakh crore, according to RBI’s Scheduled Banks’ Statement of Position in India as of December 31, 2021, released on Friday.

In the previous fortnight ended December 17, 2021, bank advances had risen by 7.27 percent and deposits went up by 9.58 percent.

In FY21, bank credit had risen by 5.56 percent and deposits by 11.4 percent.