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Money & Banking
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Credit Market
Non-food bank credit decreases
Mumbai, Nov. 2
Bank credit decreased by Rs 6,224 crore to touch Rs
20,19,175 crore for the fortnight ended October 12,
2007. Of this non-food credit decreased by Rs 6,234 crore
to touch Rs 19,82,156 crore. However, food credit
increased by Rs 11 crore to touch Rs 37, 019 crore.
According to a senior official from a public sector bank,
this decline could be what is called the `September effect'.
"At the end of the half year, banks tend to show high
growth in both advances and deposits in their account
books. So, in the period that follows immediately there
could be a decline," he explained. The increase in food
credit could be the actual increase, he added. - Our
Bureau
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