Bank credit demand up 5.5% in FY18's first fortnight: RBI data

Mumbai: Bank credit demand in India rose 5.52 per cent to Rs 76.31 trillion (US$ 1,192.34 billion) in the fortnight ending April 14, 2017, up from a six decade low of 5.08 per cent amounting to Rs 72.31 trillion (US$ 1,130 billion) as on April 15, 2016, according to the Reserve Bank of India (RBI). Bank's outstanding credit during the fiscal year 2016-17 stood at Rs 78.81 trillion (US$ 1,231.41 billion), as compared to Rs 75.01 trillion (US$ 1,172 billion) as on April 1, 2016. The deposits in banks in the first fortnight of fiscal year 2017-18 rose 11.59 per cent to Rs 105.92 trillion (US$ 1,655 billion) as against Rs 94.92 trillion (US$ 1,483.13 billion) a year ago.