Deposits continue to outpace credit growth, up 15.6%
20 March 2014 11:47 PM GMT
Bank deposits continued to outpace credit growth, clipping at 15.55 per cent year-on-year to Rs 7,692,309 crore as on March 7, according to RBI. Deposits of commercial banks stood at Rs 6,657,109 crore during the same period last year, according to RBI fortnightly data released on Wednesday.
Meanwhile, credit grew at 14.65 per cent year-on-year to Rs 5,937,249 crore as on March 7, as against Rs 5,178,577 crore in the same period last year. The RBI’s estimate of the credit growth for the current fiscal is 15 per cent, while for deposits it is 14 per cent.
During the period, the time deposit grew 15.70 per cent at Rs 6,989,150 crore as against Rs 6,040,646 crore in the same period last year. Demand deposit rose 14.06 per cent to Rs 7,03,162 crore from Rs 6,16,463 crore in the year ago period.
Meanwhile, credit grew at 14.65 per cent year-on-year to Rs 5,937,249 crore as on March 7, as against Rs 5,178,577 crore in the same period last year. The RBI’s estimate of the credit growth for the current fiscal is 15 per cent, while for deposits it is 14 per cent.
During the period, the time deposit grew 15.70 per cent at Rs 6,989,150 crore as against Rs 6,040,646 crore in the same period last year. Demand deposit rose 14.06 per cent to Rs 7,03,162 crore from Rs 6,16,463 crore in the year ago period.
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