Indian Economy News

Bank credit rises to over ₹120.46 lakh cr, deposits jump by 9.7%: RBI data

Bank credit increased by 10.82% year on year in the most recent fortnight ended May 6, 2022, to more than Rs. 120.46 lakh crore (US$ 1.55 trillion), according to the latest RBI statistics released on May 19, 2022. In the fortnight ending 22nd April 2022, the credit stood at Rs. 119.56 lakh crore (US$ 1.54 trillion). Meanwhile, bank credit totalled Rs. 108.67 lakh crore (US$ 1.40 trillion) in the two weeks ended May 7, 2021.

Bank deposits increased by 9.71% to Rs. 166.95 lakh crore (US$ 2.15 trillion) in the fortnight ending 6th May 2022, compared to Rs. 152.17 lakh crore (US$ 1.96 trillion) in the fortnight ending May 7, 2021. Deposits totalled 166.23 lakh crore (US$ 2.14 trillion) in the two weeks ending April 22, 2022.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.