Bank credit increases 5.73%, deposits 11.34%, Auto News, ET Auto

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Credit to industry contracted by 1.7% in October 2020 against 3.4% growth in October 2019.

Bombay: bank credit increased 5.73 percent to Rs 105.04 lakh crore while deposits increased by 11.34 percent to Rs 145.92 lakh crore in the fifteen days ended December 4, RBI the data showed. During the fortnight ended December 6, 2019, bank credit stood at Rs 99.35 lakh crore and deposits at Rs 131.06 lakh crore.

During the previous fortnight ended November 20, credit increased 5.82% to Rs 104.34 lakh crore and deposits by 10.89% to Rs to Rs 143.70 lakh crore.

In October, growth in non-food credit slowed to 5.6% from 8.3% growth in the same month of the previous year.

Become thin ready agriculture and related activities accelerated to 7.4 percent in the month, compared with a growth rate of 7.1 percent last year.

Credit to industry contracted 1.7% in October 2020 against growth of 3.4% in October 2019.

The growth of loans to the service sector accelerated to 9.5% in October 2020, from 6.5% in the same month of the previous year.

During the month, personal loans recorded a growth deceleration of 9.3% compared to 17.2% in October 2019.

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