Deposits Up 14%; Bank Credit Grow 19% (y-o-y)

Deposits Up 14%; Bank Credit Grow 19% (y-o-y)Bank credit of scheduled commercial banking institutions grew by 19.1% (Rs 5,278.56 billion) on a year-on-year (y-o-y) basis to 32,880.74 billion as on June 4, 2010.

According to facts from the country's central banking institution (RBI), bank credit growth remained up by 1.8% (Rs 578.96 billion) for the fortnight ended Jun. 4, 2010.

In the meantime, aggregate deposits surged 14.3% to 45,413.02 billion on y-o-y basis from Rs 5,693.77 billion.

But, it rose 0.3% (Rs 150.82 billion) for the fortnight. (With Inputs from Agencies)