Mumbai, Jun 7 (PTI) Bank credit grew by 11.04 per cent to Rs 120.27 lakh crore and deposits by 9.27 per cent to Rs 165.74 lakh crore in the fortnight ended May 20, RBI data showed on Tuesday.

In the fortnight ended May 21, 2021, bank advances stood at Rs 108.31 lakh crore and deposits at Rs 151.67 lakh crore, according to the 'Scheduled Banks' Statement of Position in India as on May 20, 2022'.

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In the previous fortnight ended May 6, bank credit grew by 10.82 per cent and deposits at 9.71 per cent.

In FY 2021-22, bank credit rose by 8.59 per cent and deposit by 8.94 per cent.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)