The Hindu Business Line : Bank credit showing revival

Chennai, June 6 Bank credit rose by Rs 17,761 crore over the fortnight ended May 23, according to the weekly statistical supplement of the Reserve Bank of India. This was the second successive fortnight when bank credit has been going up by an almost similar amount. The total loans outstanding are of the order of Rs 23,64,417 crore.

When compared to the same time in the previous year, bank credit is showing a perk-up this fiscal. At that time bank credit was down by about Rs 47,000 crore. Comparatively bank credit is up by close to Rs 16,000 crore about two months into this fiscal. The first quarter of every fiscal (April-June) normally sees low credit offtake.

Deposits in the banking system were up by Rs 14,733 crore to reach Rs 32,35,532 crore. Deposit growth is again significantly higher this fiscal compared to the same time the previous year. Deposits are growing at a rate of 24 per cent year-on-year, while loans are growing at 25.5 per cent year-on-year.

More Stories on : Credit Market

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
AP bankers' meet on debt waiver

Karur Vysya Bank Q4 net up 33%, pays Rs 12

A dynamic approach to assessing credit risk

RBI moves apex court against stay to Sahara

Forex reserves down $1.56 b

Darkest hour before dawn?

‘Banks should expand outreach’

ICICI Bank raises NRE rates

Moody’s cautions banks on asset quality

Bank credit showing revival

YES Bank launches community initiatives

Corporation Bank Field GM