Deposits grow by 9.77%; bank credit by 13.29% in the fortnight ending on July 1st

15 Jul 2022 , 08:38 AM

In the fortnight that ended on July 1, according to data from the RBI, bank credit increased by 13.29% to Rs123.81 lakh crore and deposits increased by 9.77% to Rs169.61 lakh crore.

According to the Scheduled Banks’ Statement of Position in India as of July 1, 2022, which was announced on Thursday, bank advances in the fortnight ended June 2, 2022, were Rs109.28 lakh crore, and bank deposits were Rs154.51 lakh crore.

Deposits increased by 12.05%, and bank credit increased by 8.31% in the two weeks that ended on June 17, 2022.

Bank deposits increased by 8.94% and loans by 8.59% in FY22.