Bank deposits grow 17%, credit up 15%

Bank deposits grew 17 per cent year- on-year as on 13 December due to higher mobilisation, driven by the Reserve Bank's special swap window for Foreign Currency Non-Resident (Banks) or FCNR (B) deposits. The deposits stood at Rs 75,24,217 crore on 13 December, as against Rs 64,30,998 crore during the same period last year, according to RBI's fortnightly data.

‘Part of the growth in deposits can be attributed to the FCNR (B) flows through the RBI special window,’ a state-owned bank's treasurer said.