RBI said today that Bank credit rose marginally during the fortnight ended June 15, while deposits declined slightly from the previous reporting period. According to data released by the Central Bank today aggregate bank credit of all scheduled banks increased to 220.59 lakh crore rupees as on June 15 from Rs 220.26 lakh crore as on May 31. On a year-on-year basis, bank credit expanded by about 17.4 per cent from Rs 187.84 lakh crore recorded a year earlier.

Deposits of all scheduled banks, excluding inter-bank deposits, stood at Rs 263.86 lakh crore as on June 15, compared with Rs 265.39 lakh crore a fortnight earlier, though they were nearly 12 per cent higher than Rs 235.62 lakh crore recorded in the corresponding period last year. Time deposits accounted for the bulk of deposits at Rs 231.36 lakh crore.

Banks’ investment in securities increased to Rs 72.52 lakh crore from Rs 72.17 lakh crore at the end of May, with investments in central and state government securities accounting for the major share. Borrowings from the RBI declined sharply to Rs 32,882 crore as on June 15 from Rs 92,900 crore a fortnight earlier, indicating lower dependence on central bank liquidity support during the reporting period.

The RBI releases the statement of position of scheduled banks on a fortnightly basis to provide a snapshot of deposits, credit, investments and liquidity conditions in the banking system.