Banks see strong credit growth

Banks see strong credit growth: RBI data reveals 16% deposit jump

Synopsis

Bank credit growth picked up pace to 16 percent in the fortnight ending April 30. Deposits saw a year-on-year growth of 12.3 percent. This marks an acceleration from the previous fortnight. Outstanding credit reached Rs 212.12 lakh crore. Deposits in the system stood at Rs 258.64 lakh crore. The credit-deposit ratio was 82.01 percent.

Kolkata: Banks’ credit growth gathered pace in the fortnight ending April 30 at 16% while deposits grew 12.3% year-on-year, Reserve Bank of India data showed.

The year-on-year credit growth was recorded at 15% a fortnight back while deposit growth print was at 12.2%.

The credit-deposit ratio stood at 82.01% at the end of April. The outstanding credit extended by scheduled commercial banks stood at Rs 212.12 lakh crore while outstanding deposits in the system were at Rs 258.64 lakh crore.