Credit pick-up nearly stalls,up paltry 7.4%; deposits up 9.5%
Dec 06 2013 , New Delhi
Overall bank credit grew 7.4 per cent or by Rs 3,89,450 crore to Rs 54,49,900 crore as of November 15, it said in the data released today. Of this, banks added Rs 3,84,090 crore on the non-food credit front since April 1, while on the food credit, it stood at Rs 5,370 crore, RBI said.
The aggregate deposits were up by 9.5 per cent or Rs 6,39,300 crore in absolute terms to Rs 73,89,700 crore as of November 15, it added.
It can be noted that at 4.4 per cent and 4.8 per cent, economic growth for the first two quarters of this fiscal has been fairing below last fiscal's 5 per cent.