Bank credit growth slowed in Dec quarter on muted industrial demand

Loans sanctioned by public sector banks (PSBs) at the end of May 8 stood at Rs 5.95 trillion

Bank credit rose 6.52 per cent year-on-year to Rs 102.52 trillion, while deposits grew 10.64 per cent to Rs 138.50 trillion in the fortnight ended May 8, according to latest RBI data.

In the fortnight ended May 10, 2019, bank loans had stood at Rs 96.24 trillion, and deposits at Rs 125.17 trillion.

On a fortnightly basis, bank credit declined by Rs 21,010.36 crore to Rs 102.52 trillion in the reporting period from Rs 102.73 trillion in the fortnight ended April 24, 2020.

On Tuesday, Finance Minister Nirmala Sitharaman had said state-owned banks sanctioned about Rs 6.45 trillion worth loans