Credit growth hits double digit at 12% in Sep quarter

Deposit expansion of scheduled commercial banks (SCBs) stood at 12.9 per cent while credit growth was at 12.1 per cent for the quarter ended September, led by higher contribution by public sector banks, RBI today said.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney IThe Winning Leap SME Special
Moneycontrol

Home » News » Economy

Dec 01, 2016, 03.57 PM | Source: PTI

Credit growth hits double digit at 12% in Sep quarter

Deposit expansion of scheduled commercial banks (SCBs) stood at 12.9 per cent while credit growth was at 12.1 per cent for the quarter ended September, led by higher contribution by public sector banks, RBI today said.

Like this story, share it with millions of investors on M3

Credit growth hits double digit at 12% in Sep quarter

Deposit expansion of scheduled commercial banks (SCBs) stood at 12.9 per cent while credit growth was at 12.1 per cent for the quarter ended September, led by higher contribution by public sector banks, RBI today said.

Post Your Comments

Share Cancel

| 1 Comments
Credit growth hits double digit at 12% in Sep quarter
Deposit expansion of scheduled commercial banks (SCBs) stood at 12.9 per cent while credit growth was at 12.1 per cent for the quarter ended September, led by higher contribution by public sector banks, RBI today said.

"The acceleration in both, deposits as well as credit, was broad based and observed across all population groups as also bank groups with exception of growth in bank credit by foreign banks," RBI said in its Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks: September 2016.

It said public lenders continued to maintain their leading position, accounting for 70 per cent of total deposits and 67 per cent of credit in the quarter.

Term deposits constituted the highest share (63.6 per cent) in aggregate deposits followed by savings (28.1 per cent) and current deposits (8.3 per cent).

Seven states -- Maharashtra, NCT of Delhi, Tamil Nadu, Karnataka, Uttar Pradesh, West Bengal and Gujarat -- accounted for 68 per cent of the total business (deposits plus credit) of the banks in the country.

"These seven states together accounted for 66 per cent of deposits and 72 per cent of credit, at all-India level," RBI data showed.

As of the end of the reporting quarter, the credit deposit (C-D) ratio of all SCBs at all-India level stood at 74.5 per cent. At 85.6 per cent, the ratio of private banks came in higher. For state-owned banks, the figure stood at 71.2 per cent.

Among the 36 states/Union Territories, 6 had credit deposit ratio higher than the all-India level.

The ratio is the highest for Tamil Nadu (107.5 per cent) followed by Chandigarh (103 per cent), Andhra Pradesh (102.3 per cent), Maharashtra (100.2 per cent), Telangana (99.3 per cent) and NCT of Delhi (87.7 per cent), RBI said. PTI HV BEN RSY .

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login