Data by the Reserve Bank of India (RBI) has revealed that bank credit has risen by 10.82% to Rs 120.46 lakh crore, while the deposits have increased by 9.71% to Rs 166.95 lakh crore in the fortnight ended May 6, 2022.
As per RBI’s scheduled banks’ statement of position in India as of May 6, released on Thursday the bank advances were reported at Rs 109.70 lakh crore, and deposits stood at Rs 152.16 lakh crore in the fortnight ended May 7, 2022.
Bank advances grew by 10.07% to Rs 119.54 lakh crore while deposits rose by 9.84% to Rs 166.24 lakh crore in the previous fortnight ended April 22, 2022.
The bank credit rose by 8.59 percent and deposit by 8.94 percent in the financial year 2021-22.
