Bank deposits grow 16%, credit goes up
The RBI's estimate of the banking system's credit growth for the current fiscal is 15 percent, while for deposits it is 14 percent.
Mumbai: Bank deposits grew 16 percent year-on-year to Rs 75,01,861 crore in the fortnight ended 27 December, while credit grew at 14.52 percent at Rs 57,55,916 crore.
Deposits going up. Reuters
According to the latest RBI data, during the fortnight, commercial banks' credit grew 14.52 percent to Rs 57,55,916 crore as against Rs 50,25,872 crore in the fortnight ended 28 December 2012. While the comparative deposits stood at Rs 64,74,822 crore in the year-ago period.
In the previous fortnight, deposits had grown 17 percent at Rs 75,24,217 crore as against Rs 64,30,998, last year, while credit grew at 15 percent year-on-year to Rs 57,01,328 crore as against Rs 49,61,525 crore.
The RBI's estimate of the banking system's credit growth for the current fiscal is 15 percent, while for deposits it is 14 percent.
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