Bank credit grows by 6.63% while deposits go up by over 12% during fortnight ended February 26

Bank credit has risen by 6.63 percent to 107.75 lakh crore rupees and deposits grew by 12.06 percent to 149.34 lakh crore rupees in the fortnight ended February 26, according to RBI data. In the fortnight ended February 28 last year, bank credit stood at 101.05 lakh crore rupees and deposits at 133.26 lakh crore rupees. Bank credit increased by 6.58 percent to 107.04 lakh crore rupees and deposits rose by 11.75 percent to 147.81 lakh crore rupees in the previous



fortnight ended February 12, 2021.

In a report, Care Ratings said the bank credit growth in the fortnight ended February 26 stood stable compared to the last fortnight and returned to the levels observed in the early months of the pandemic, when the loan growth ranged between 6.5 percent to 7.2 percent during April 2020. According to analysts, the growth in bank credit is driven by an increase in retail loans.