RBI: Bank credit grows 11.48%

Banks’ credit growth continued to grow by in double digit at 11.48 % to Rs 83,48,773 crore in the fortnight ended March 2, according to the RBI data.

In the period ended March 3, 2017, the advances had stood at Rs 74,88,993 crore. The growth in advances in the reporting fortnight was higher than the previous fortnight.

In the period ended February 16, 2018, banks’ credit had grown by 10.65 per cent to Rs 82,53,516 crore from Rs 74,58,850 crore in the period ended February 17, 2017.

In January 2018, the non-food credit of banks rose by 9.5 per cent as against a growth of 3.5 per cent in January 2017.