Bank Credit Grows 10.82%; Deposits Rise 9.71% In Fortnight Ended May 6: RBI

Bank credit grew by 10.82 per cent to Rs 120.46 lakh crore and deposits by 9.71 per cent to Rs 166.95 lakh crore in the fortnight ended May 6, 2022, RBI data showed.

In the fortnight ended May 7, 2021, bank advances stood at Rs 108.70 lakh crore and deposits at Rs 152.16 lakh crore, according to the RBI's scheduled banks' statement of position in India as on May 6, released on Thursday.

Bank advances rose by 10.07 per cent to Rs 119.54 lakh crore and deposits by 9.84 per cent to Rs 166.24 lakh crore in the previous fortnight ended April 22, 2022.

In FY 2021-22, bank credit rose by 8.59 per cent and deposit by 8.94 per cent.

(PTI)