Bank credit and deposits grew by 6.13 per cent and 11.04 per cent to Rs 102.91 lakh crore and Rs 140.75 lakh crore, respectively, in the fortnight ended July 3, according to the RBI data. In the fortnight ended July 5, 2019, bank loans stood at Rs 96.97 lakh crore and deposits at Rs 126.75 lakh crore, the data showed. In the previous fortnight ended June 19, 2020, bank credit had grown by 6.18 per cent and deposits at 11 per cent. For May, the non-food credit growth decelerated to 6.8 per cent year-on-year from 11.4 per cent in the same period last year, as per the data. The outstanding incremental non-food credit stood at Rs 90.3 lakh crore as of May 22, 2020 as against Rs 84.51 lakh crore on May 24, 2019. Bank loan growth to industry decelerated to 1.7 per cent in May 2020 from 6.4 per cent in the same month last year. Loan growth to the services sector slowed down to 11.2 per cent in May f rom 14.8 per cent in the same period previous year.

(Economic Times)