Bank credit increased by Rs 46,707.62 crore in the fortnight ended October 8, according to scheduled banks' statement of position released by the RBI.
Outstanding bank credit as on October 8 was at Rs 34,68,998.94 crore.
On a year-on-year basis, credit has grown at more than 20 per cent till date, the RBI data showed.
Investments by banks in government and other approved securities rose by Rs 3,185.79 crore to Rs 14,75,696.59 crore.
Deposits collections were up by Rs 81,016.25 crore to Rs 47,88,309.29 crore as banks lured customers with higher interest rates on fixed deposits. After the RBI increased policy rates, most of the banks have increased deposit rates in tranches.
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