Credit offtake by banks improved for the second consecutive fortnight as increased by Rs 13,005 crore in the first half of June. The growth was Rs 21, 460 crore during the fortnight ended June 5.
Outstanding bank credit stood at Rs 27,70,216 crore on June 19, 2009, as against Rs 23,93,239 crore a year ago, as per latest data by the Reserve Bank of India (RBI).
However, growth in advances is better than the credit offtake during the corresponding period of previous year. Moreover, the loans had increased by Rs 12,030 crore during the fortnight ended June 20, 2008.