Bank credit up by 11.04%; deposits by 9.27 %: RBI

Mumbai: Bank credit grew by 11.04 per cent to Rs 120.27 lakh crore and deposits by 9.27 per cent to Rs 165.74 lakh crore in the fortnight ended May 20, RBI data showed on Tuesday.

In the fortnight ended May 21, 2021, bank advances stood at Rs 108.31 lakh crore and deposits at Rs 151.67 lakh crore, according to the 'Scheduled Banks' Statement of Position in India as on May 20, 2022'.

In the previous fortnight ended May 6, bank credit grew by 10.82 per cent and deposits at 9.71 per cent.

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