The Hindu Business Line : Bank credit up by Rs 3,708 cr

GROSS bank credit in the system has increased by Rs 3,708 crore to touch Rs 10,40,840 crore for the fortnight ended January 21,2005, as per the latest RBI statistics.

This is inclusive of food credit, which declined by Rs 3,630 crore and non-food credit, which increased by Rs 7,336 crore.

Loans and advances to scheduled commercial banks to the State Governments declined by Rs 222 crore to touch Rs 3,435 crore during the week.

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 1,95,819 crore to touch Rs 10,89,933 crore, during the fortnight ended January 21.

During this period, gross bank investments declined by Rs 10,900 crore to Rs 7,12,225 crore. Investments in government securities declined by Rs 10,605 crore to touch Rs 6,86,564 crore, while investments in other approved securities Rs 295 crore to Rs 25,662 crore.

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