Bank credit rises by Rs 1,265 crore

Mumbai: The bank credit has increased by Rs 1,265 crore to touch Rs 5,70,090 crore for the fortnight ended 8 February 2002, according to the weekly statistical supplement of the Reserve Bank of India (RBI).

This is inclusive of the food credit, which increased by Rs 301 crore to touch Rs 54,981 crore, and the non-food credit, which rose to Rs 5,15,109 crore for the same period.

The total accommodation provided by scheduled commercial banks to the commercial sector in the form of the bank credit and investments in shares, debentures, bonds and commercial paper has gone up by Rs 46,938 crore to Rs 5,95,238 crore for the fortnight ended 8 February 2002. Loans and advances provided by the RBI to the central government decreased by Rs 6,059 crore to Rs 2,503 crore for the week ended 15 February 2002, from Rs 8,562 crore in the previous week. Foreign currency assets rose by $437 million to touch $47.285 billion for the week ended 15 February 2002. Gold remained steady at $2.913 million, while special drawing rights touched $10 million.