Mumbai. During the Corona period, along with the credit of banks, there has been an increase in the deposits. Bank credit grew by 9.16 per cent to Rs 116.83 lakh crore in the fortnight ended December 31, 2021 and deposits grew by 10.28 per cent to Rs 162.41 lakh crore. This was revealed from the data for the fortnight ended December 31, 2021 released on Friday regarding the loans and deposits of the Reserve Bank of India i.e. RBI.
In the fortnight ended January 1, 2021, bank credit stood at Rs 107.02 lakh crore and deposits at Rs 147.26 lakh crore. Earlier, in the fortnight ending December 17, 2021, there was a growth of 7.27 per cent in bank advances and 9.58 per cent in deposits. In the financial year 2020-21, there was an increase of 5.56 per cent in bank credit and 11.4 per cent in deposits.
Also read- Fortune oil maker Adani Wilmar’s IPO may come in January 2022, size reduced to ₹ 3,600 crore
The country’s foreign exchange reserves decreased by $ 878 million
Significantly, according to the data released by the RBI on Friday, the country’s foreign exchange reserves declined by $ 878 million to $ 632.736 billion in the week ended January 7, 2022. Earlier, in the week ended December 31, 2021, foreign exchange reserves had declined by $ 1.466 billion to $ 633.614 billion.
Also read- 7th Pay Commission: Modi government will increase the minimum basic pay from Rs 18,000 to Rs 26,000, may be announced soon
This decline in foreign exchange reserves was mainly due to reduction in foreign currency assets (FCA), which is a significant part of the total currency reserves. Denominated in dollars, FCAs also include the effect of increase or decrease in the value of other foreign currencies such as the euro, pound and yen held in foreign exchange reserves.
Tags: bank, bank loan, loan