Credit rose by 14.61 percent to Rs. 93.32 lakh crore; while deposits have shown a growth of 9.69 percent in the previous fortnight ended January 18.
The latest RBI data shows growth in deposits as well as bank credit. Bank Credit and Deposits grew at 14.5 percent at Rs 94.29 lakh crore while deposits showed tad bit growth at 9.63 percent to Rs 121.22 lakh crore.
Lending rose by 14.61 percent to Rs 93.32 lakh crore while Deposits had risen by 9.69 percent to Rs 119.86 lakh crore and. According to the previous fortnight data ended on January 18.
The decline was mostly due to the lousy performance by allied activities and agriculture in personal loans during the week.
While credit requirement from allied activities and agriculture rose by 8.4 percent in December 2018, in contrast to an increase of 9.5 percent in December 2017, in the year-ago month industrial credit also increased by 4.4 percent in December 2018 over 2.1 percent
Correspondingly non-food credit also grew at a fast pace at 12.8 percent year-on-year basis in December 2018 compared to a 10 percent growth in the same month last year.
In the month of reporting, credit to the services sector shown a significant growth which doubled to 23.2 percent as against 14.7 percent year-ago period but personal loan extension has demonstrated a decrease of 17 percent from 18.9 percent.
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