India’s bank credit grows by 13.29%, deposits by 9.77%

India's bank credit grew by 13.29 percent to Rs123.81 lakh crore and deposits by 9.77 percent to Rs169.61 lakh crore in the fortnight ended on 1 July, according to the Reserve Bank of India (RBI).

Bank advances stood at Rs109.28 lakh crore and deposits at Rs154.51 lakh crore in the fortnight ended 2 June 2021, according to the Scheduled Banks' Statement of Position in India as on 1 July 2022, released on Thursday (14 July), reports The Economic Times.

Bank credit grew by 8.31 percent and deposits by 12.05 percent in the fortnight ended 17 June 2022.