Bank deposits grew by 12.3 percent to Rs.81.14 trillion in the second quarter of the current fiscal. Bank deposits growth was 11.5 percent (Rs.72.26 trillion) in the corresponding July-September quarter of 2013-14.
“Growth in aggregate deposits accelerated to 12.3 percent in September 2014 from 11.5 percent a year ago whereas gross bank credit decelerated to 9.5 percent from 15.1 percent during the year. “This acceleration in aggregate deposits as well as deceleration in gross bank credit was broad based and observed across all population groups,” the Reserve Bank of India said in a data release on Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks: September 2014.
The credit grew at 9.4 percent to Rs.61.57 trillion during the July-September quarter of 2014-15. The credit growth was 15.05 percent (Rs.48.88 trillion) a year ago. Public sector banks together accounted for 74 percent share in aggregate deposits and 71.7 percent share in gross bank credit, while private sector banks’ share stood at 18.7 percent and 20.5 percent respectively at end-September 2014.
The credit-deposit (CD) ratio for all banks was 75.9% as on end-September 2014, led by metropolitan branches.
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