RBI has informed that the credit growth of Banks, has risen to Rs. 7,658.212 crores, during the fortnight ended 9th June which was Rs. 7,222.939 crore during the same period last year.
This means that there is a growth in the credit portfolio to the tune of 6.02 per cent during the period under review as compared to the previous period.
It may be noted that during the period ended March 31, 2017 credit growth had fallen to low of 5.08 per cent with an outstanding amount of Rs. 7,800,000 crore, as against Rs. 7,500,000 crore on April 1, 2016.
Also, the bank deposits had grown to Rs.10,577,947 crore from Rs. 9,513,148 crore during the period ended June 10, 2016, which amounted to 11.19 per cent growth.