The bank credit grew by 5.93 percent this year and grew up to Rs 107.05 lakh crore when deposits rose 11.06 percent then further it grew up to Rs 147.98 lakh crore in the night ended January 29, 2021, Reserve Bank of India( RBI) data already showed this on its website. On January 31, 2020, this bank credit stood at Rs 101.05 lakh crore then.
In the fortnight ended January 2021, very good growth in the bank credit was i.e, 6.36 percent, while deposits rose to 11.41 percent particularly.
In December, non-food credit growth of these banks stood at 5.9 percent if we compared to the 7 percent within the same month of the last year 2020, according to Reserve Bank of India(RBI) data on Sectoral Deployment of the Bank Credit for last December, released in January 2021.
In the reporting month, growth in the total credit to agriculture and all the activities accelerated to 9.4 percent from the 5.3%. The total loans to industry contracted by 1.2 percent as compared to the 1.6 percent of the growth previous year, mainly due to contraction in credit to very large industries by 2.4 percent as against the 1.8 percent growth in the previous year.
The personal loans registered a decelerated growth of 9.5 percent in the reporting month if we compared with the 15.9 percent growth in December 2019. In the last fortnight ended January 15, 2021, growth in this bank credit was up to 6.36 percent, whenever deposits rose 11.41 percent after the last record.
The whole loans to industry contracted by 1.2 percent as compared to the 1.6 percent of the growth earlier year, mainly due to contraction in the credit to all the large industries in the economy.
