Bank deposits rise 14.8%, credit growth at 13.8%

Bank deposits grew 14.8% year-on-year to Rs 78,88,416 crore as of May 2, faster than credit growth, according to the RBI data.

Deposits of commercial banks stood at Rs 68,68,811 crore during the same period last year, according to the RBI's fortnightly data.

Bank credit grew at 13.8% year-on-year to Rs 60,67,459 crore in the reporting fortnight, as against Rs 53,29,812 crore last year.

During the period, the time deposit grew 14.71% at Rs 71,40,184 crore as against Rs 62,24,047 crore in the previous year.

Demand deposit rose 16.04% to Rs 7,48,231 crore from Rs 6,44,764 crore in the year ago period.

On a fortnightly basis, deposits rose marginally by 0.23% to Rs 78,88,416 crore as against Rs 78,69,967 crore in the week ended April 18.

Credit growth was up at Rs 60,67,459 crore from Rs 60,36,083 crore.

RELATED ARTICLES

EDITORIAL OF THE DAY

  • The solution to tackling recurrent droughts is in managing consumption of water, not its overuse

    A staggering 33 crore people or more than a quarter of the country’s population are in the grip of drought and consequently, face drinking water sho

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Tushar Gandhi

An unexplored side of rural enterprise

What is rural enterprise? Ask this qu­estion and 9 out ...

Kuruvilla Pandikattu

Black and white of morality

Would you kill one innocent person to save five? Choose ...

Shona Adhikari

Let's head to Bangalore & catch up on art

Bangalore art scene is bang in the middle of news, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture