Bank Credit: Banks’ loans increased by 14.5%, RBI data revealed

Loans of banks registered an increase of 14.5% till July 29 as compared to the previous year. This was revealed in the data released by the Reserve Bank on Wednesday.

As of July 29, the total outstanding loans of banks is 123.69 trillion, last year this amount was 108 trillion. Bank deposits till this period stood at 169.72 trillion as against 155.49 trillion last year. It registered an increase of 9.1% percent. It has been said by RBI that these figures are provisional.

RBI Governor Shaktikanta Das, while announcing the new monetary policy last week, said fixed deposit rates were rising. Given the continuous spurt in credit demand, banks must ensure availability of funds.

Explain that RBI Governor Shaktikanta Das last week increased the repo rate by 50 basis points to 5.40%. Earlier it was 4.9%. According to the Reserve Bank, it has decided to increase the repo rate to deal with the rising inflation in the country.

Expansion

Loans of banks registered an increase of 14.5% till July 29 as compared to the previous year. This was revealed in the data released by the Reserve Bank on Wednesday.

As of July 29, the total outstanding loans of banks is 123.69 trillion, last year this amount was 108 trillion. Bank deposits till this period stood at 169.72 trillion as against 155.49 trillion last year. It registered an increase of 9.1% percent. It has been said by RBI that these figures are provisional.

RBI Governor Shaktikanta Das, while announcing the new monetary policy last week, said fixed deposit rates were rising. Given the continuous spurt in credit demand, banks must ensure availability of funds.

Explain that RBI Governor Shaktikanta Das last week increased the repo rate by 50 basis points to 5.40%. Earlier it was 4.9%. According to the Reserve Bank, it has decided to increase the repo rate to deal with the rising inflation in the country.