Thursday, July 17, 2008
RBI says bank credit grew 25%, deposit 22% in year to Jul 4
MUMBAI - Bank credit in year to Jul 4 registered 24.9% growth, while
deposits grew 21.7% during the period, according to data released by
the Reserve Bank of India today.
According to latest RBI data, advances of commercial banks rose to
24.9 trln rupees as on Jul 4 from 19.9 trln rupees on Jul 6, 2007.
In the fortnight of Jul 4, credit expanded marginally 0.63%.
Bank deposits in the year to Jul 4 grew 21.7% to 34.12 trln rupees.
On a fortnightly basis, deposits registered grew 1.74%.
RBI, in its annual policy statement for 2008-09 (Apr-Mar), projected
credit growth of 20% and deposit growth of 17% for the current
financial year.
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