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Credit growth at 15% YoY for fortnight ended May 3

During the fortnight ended 3 May 2013, banks disbursed new credit of Rs. 509.45 billion

May 20, 2013 12:20 IST | India Infoline News Service
Deposit growth stood at 13.5% year-on-year, while credit growth was almost 15% year-on-year in the fortnight ended May 3.

During the fortnight, banks disbursed new credit of Rs. 509.45 billion, while accumulating deposits of Rs. 450.78 billion, according to Reserve Bank of India.

Earlier this month, RBI had cut the repo rate, at which it lends to banks, by 25 basis points to 7.25%. However, banks are yet to cut their own lending rates.

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