Bank credit growth rises by 11 per cent to Rs 62,52,937 crore

Mumbai: Bank credit grew 11 per cent to Rs 62,52,937 crore in the fortnight to November 15, while deposits grew 12.16 per cent to Rs 82,53,630 crore from Rs 73,58,527 crore, according to the Reserve Bank data. The advances had stood at Rs 56,33,180 crore in the corresponding fortnight last year, the fortnightly data showed.

Bank credit rose 11.17 per cent to Rs 62,72,621 crore in the previous fortnight ended October 31. The demand deposits had risen 14 per cent to Rs 7,40,675 crore in the fortnight ended November 15 as against Rs 6,48,319 crore in the year-ago period. Time deposits grew 12 per cent to Rs 75,12,964 crore in the period from Rs 6,710,208 crore in the same fortnight last year.