Bank credit grows at 6.02% in fortnight ended 9 June, deposits at 11.19%

Mumbai: Banks' credit growth grew at 6.02 percent to Rs 76,58,212 crore in the fortnight ended 9 June from Rs 72,22,939 crore in the same period of fiscal 2016, according to the data released by RBI.The growth in advances in the reporting period was slightly higher than the previous fortnight ended 26 May, 2017, RBI data showed.[caption id="attachment_3526955" align="alignleft" width="380"] Reuters[/caption]In the fortnight ended 26 May, advances had grown by 5.08 percent with an outstanding loans at Rs 75,93,546 crore.In the fiscal ended 31 March, 2017, credit growth had plunged to a multi-year low of 5.08 percent with an outstanding loan at Rs 78.81 trillion as against Rs 75.01 trillion on 1 April, 2016.In the reporting fortnight, bank deposits grew at 11.19 percent to Rs 105,77,947 crore from Rs 95,13,148 crore in the fortnight ended 10 June, 2016.Deposits in the fortnight ended 26 May had grown by 10.9 percent to Rs 105,51,182 crore from Rs 95,14,087 crore in the period ended 27 May, 2016, the data showed.