Bank credit in India up Rs80,000 crore in last two weeks of December 2009

13 Jan 2010

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Bank loans in India jumped nearly Rs80,000 crore (or 2.7 per cent) in the last two weeks of December 2009, rising to Rs3,020,807.58 crore as of 1 January 2010, data released by the Reserve Bank of India showed.

Total bank credit (excluding inter-bank credit) of scheduled commercial banks in the country rose to Rs3,020,807.58 crore as of 1 January 2010, up Rs79,514.51 from Rs2,941,293.07 crore as of 18 December 2009.

Total outstanding credit of scheduled commercial banks stood at Rs2,657,657.69 core as of 1 January 2009.

Food credit provided by scheduled commercial banks was marginally up at Rs46,359.26 crore as of 1 January 2010 from Rs45,037.17 crore as of 18 December 2009 and down Rs8,259 crore from Rs54618.43 as of 1 January 2009.

State co-operative banks provided food credit to the tune of Rs4,190.00 in the two weeks ended 1 January 2010, unchanged from the level as of 18 December 2009 and up Rs785 crore from Rs3,405.00  as of 1 January 2009.

Lending by all scheduled banks rose to Rs3,107,137.30 crore as of 1 January 2010 from Rs3,024,891.35 crore as of 18 December 2009. Credit by all scheduled banks in the country stood at Rs2,741,696.25  crore as of 1 January 2009.

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