Financial Daily from THE HINDU group of publications
Sunday, Oct 17, 2004
Financial Daily from THE HINDU group of publications Sunday, Oct 17, 2004 |
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Banking Money & Banking - Credit Market Bank credit up Rs 16,655 cr Our Bureau
Mumbai , Oct. 16 BANK credit for the fortnight ended October 1, 2004 surged by Rs 16,655 crore to Rs 9,35,905 crore. Food credit grew by Rs 449 crore to Rs 38,638 crore, while non-food credit witnessed a jump of Rs 16,206 crore as it moved to Rs 8,97,267 crore. Total accommodation provided by scheduled commercial banks to commercial sector in the form of bank credit and investments in shares or debentures or bonds or commercial papers increased by Rs 88,218 crore to move northward to Rs 9,82,332 crore, for the period March 19, 2004 to October 1, 2004. Meanwhile, loans and advances provided by the Reserve Bank of India to the Central Government were at a nil balance while those provided to the State Governments grew by Rs 2,763 crore to touch Rs 3,631 crore, for the week ended October 8. India's M3 money supply growth rate was at the rate of 14 per cent in the year to October 1.
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