Bank Credit Grows 13.29%, Deposits Rise 9.77%

Bank credit grew 13.29% to Rs 123.81 lakh crore and deposits rose 9.77% to Rs 169.61 lakh crore in the fortnight ended on July 1, RBI data showed.

In the fortnight ended June 2, 2021, bank advances stood at Rs 109.28 lakh crore and deposits at Rs 154.51 lakh crore, according to the Scheduled Banks' Statement of Position in India as on July 1, 2022, released on Thursday.

In the fortnight ended June 17, 2022, bank credit grew by 8.31% and deposits by 12.05%.

In FY22, bank credit rose by 8.59% and deposits by 8.94%.