RBI data shows bank credit rose by 10.82% to Rs 120.46 lakh crore

The RBI data has shown bank credit rises by 10.82 per cent to Rs 120.46 lakh crore and deposits by 9.71 per cent to Rs 166.95 lakh crore on May 6, 2022.

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The RBI data has shown bank credit rises by 10.82 per cent to Rs 120.46 lakh crore and deposits by 9.71 per cent to Rs 166.95 lakh crore on May 6, 2022.

Evidently credit was at 119.56 lakh crore in the fortnight ending for 22nd of April, 2022.

Bank deposits recorded a highest growth of9.71%. Which is equal to 166.95 lakh crore in the fortnight ending May 6,2022. When compared to 152.17 lakh crore Indian rupees in the may 7,2021 fortnight.

Deposits stood at 166.23 lakh crore in the fortnight ending April22,2022.

Whereas in the fortnight ending May7 ,2021 it was 108.67 lakh crore Indian rupees. It is visible from the data the jump of 10.82 per cent is seen.

A rise in food credit outstanding of commercial banks went up to 55487.15 crore Indian rupees compared to 42552.09 crore in the fortnight ending April 22, 2022.