The credit paid out by scheduled commercial banks climbed up 23.2% to Rs 3,608.88 billion on yearly basis as on Jul. 27, 2007, which is under the growth of aggregate deposits of 25.7%.

According to the RBI’s weekly statistical supplement of Aug. 10, 2007, the total disbursals stood at Rs 19,172.31 billion in the period under review.

In the corresponding period of 2005-2006, bank credit arose 31.2%. Therefore, the credit growth has decreased amazingly for the week ended Jul. 27, 2007, connoting that RBI’s stand of tightening up the monetary policy produced worthy results.

The credit to the food sector increased by Rs 49.83 billion as on Jul. 27, 2007 over Jul. 28, 2006. Out of the total disbursement, an amount of Rs 410.59 billion was allocated to the food sector. The balance sum of Rs 18,761.72 billion was allocated to the non-food sector.

As on Jul. 27, 2007, the credit-deposit ratio was 69.20%, whereas the cash-deposit ratio and investment-deposit ratio were 8.98% and 31.48% correspondingly.