The rate of growth of non-food credit by Indian banks showed an increase to 11.04% during the fortnight ended 16 September compared to 9.91% in the previous fortnight. Outstanding non-food credit stood at Rs 73.10 lakh crore as on 16 September, compared to Rs 65.83 lakh crore in the same fortnight last year, according to data released by the Reserve Bank of India. The rate of growth in deposits improved slightly to 9.87% (y-o-y), compared to 9.8% (y-o-y) in the previous fortnight. As on 16 September, total deposits in the system stood at Rs 97.87 lakh crore. The 11.04% credit growth is most likely a result of demand from the retail segment.
