Bank credit grows 16.5% to Rs. 157 trillion

Bank credit expanded by 16.5 per cent year on year (Y-o-Y) basis to Rs. 157.81 trillion at end of March 8, 2024. Sequentially loans rose from Rs. 156.77 trillion at the end of the previous fortnight (February 23, 2024), according to Reserve Bank of India data.

Deposits of banks grew by 13.1 per cent Y-o-Y to Rs. 203.09 trillion at end of March 8, 2024. Sequentially, they rose from Rs. 200.92 trillion a fortnight ago, RBI data showed. The comparison excludes the impact of the merger of mortgage lender HDFC with HDFC Bank.