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Bank credit up Rs 7,241 cr

Our Bureau

Mumbai , Nov. 27

GROSS bank credit in the system has increased by Rs 7,241 crore to Rs 9,95,517 crore as on the fortnight ended November 12, as per the latest Reserve Bank of India statistics.

This is inclusive of food credit, which grew by Rs 1,516 crore to touch Rs 41,228 crore and non food credit which rose by Rs 5,725 crore to Rs 9,54,289 crore, according to the weekly statistical supplement of RBI.

During the fortnight, Investments of banks in SLR securities came down by Rs 14,974 crore to Rs 6,91,569 crore. Investments in other approved securities declined by Rs 34 crore to Rs 26,206 crore.

Loans and advances to scheduled commercial banks to state governments in the form of ways and means has increased by Rs 769 crore to touch Rs 3,708 crore as on November 12, 2004. Total accommodation provided by scheduled commercial banks to the commercial sector in the form of bank credit and investments in shares, debentures, bonds and commercial paper, increased by Rs 1,53,426 crore to touch Rs 10,47,540 crore.

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