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This article is more than 2 year old.

Credit demand, deposit growth lose steam

Credit demand, deposit growth lose steam
Both bank credit and deposit growth lost the momentum and slowed to 12.95 percent and 9.71 percent at Rs 96.21 lakh crore and 124.86 lakh crore respectively, in the fortnight to April 26, according to the Reserve Bank data released on Thursday.
In the year-ago fortnight, credit stood at Rs 85.17 lakh crore while deposits stood at Rs 113.81 lakh crore.
In the previous fortnight, credit offtake grew 14.19 per cent and deposits 10.60 percent.
For the full year to March 2019, bank credit grew 13.24 percent and deposits 10.03 percent.
On a year-on-year basis, non-food credit rose 12.3 percent in March from 8.4 percent. Advances to agriculture and allied activities more than doubled to 7.9 percent from 3.8.
Credit to the services sector expanded 17.8 percent compared to 13.8 percent in March. Advances to industry rose 6.9 percent compared to a low 0.7 percent a year ago. Personal loans growth slipped a bit to 16.4 percent in the month from 17.8 percent.