Macro Economy

Bank credit growth rises to ₹19,126 cr

Our Bureau Mumbai | Updated on February 19, 2014 Published on February 19, 2014

The fourth quarter so far has been good for banks when it comes to credit growth.

According to the Reserve Bank of India’s scheduled banks statement of position in India, in the fourth quarter up to February 7, banks have collectively lent ₹19,126 crore more over the comparative year ago period.

In the reporting period, bank credit increased by ₹97,186 crore against ₹78,060 crore in the year ago period.

Bankers attribute the increase in credit to demand, among others, for short-term loans, working capital, and retail segments.

During the reporting period, deposit accretion slowed a tad. Banks saw deposit accretion of ₹99,931 crore against ₹1,03,455 crore in the year-ago period.

Banks’ collective investment in government and state government securities were lower at ₹21,265 crore.

Published on February 19, 2014
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