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Bank credit increased by Rs 15,348 crore to Rs 37,35,233 crore in the fortnight ended January 28, compared with the preceding fortnight, according to the scheduled banks' statement of position released by the Reserve Bank of India.
In the quarter ended January 14, bank credit had decreased by Rs 43,327 crore to Rs 37,19,885 crore.
According to bankers, the growth in credit could be attributed to disbursals of loans that were sanctioned earlier, especially in the infrastructure segment. The demand is from sectors such as power and iron and steel. On a year-on-year basis, bank credit increased by Rs 7,04,007 crore, which is a growth of 23 per cent.
During the fortnight, deposits grew by Rs 37,370 crore to Rs 49,83,378 from Rs 49,456,48 crore in the preceding fortnight. On a year-on-year basis deposits grew by Rs 6,83,972 crore, up 16 per cent.
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