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Bank credit growth accelerates to 14.2 pc in June quarter: RBI data

by zee business
August 25, 2022
in Business
Reading Time: 4 mins read
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Financial institution credit score progress accelerated to 14.2 per cent within the quarter ended June 2022 from 6 per cent in the identical interval of the earlier yr, RBI information confirmed on Thursday.

Within the quarter ended March 2022, financial institution credit score had expanded by 10.8 per cent.

The Reserve Financial institution of India (RBI) on Thursday launched the ‘Quarterly Statistics on Deposits and Credit score of SCBs for June 2022’. This information is collected from all scheduled industrial banks (SCBs), which embody regional rural banks (RRBs), small finance banks (SFBs) and funds banks (PBs).

“Credit score progress has been broad-based: all of the inhabitants teams (i.E., rural, semi-urban, city and metropolitan), all of the financial institution teams (i.E., public/personal sector banks, international banks, RRBs and SFBs) and all of the areas of the nation (i.E., central, japanese, north-eastern, northern, southern and western) recorded double-digit annual credit score progress in June 2022,” as per the information.

Combination deposit progress (year-on-year) has remained within the vary 9.5 – 10.2 per cent over the past 5 quarters.

Metropolitan branches proceed to account for over half of the financial institution deposits and their share elevated marginally over the past one yr. 

The share of present account and financial savings account (CASA) deposits in whole deposits has been growing over the past three years (42 % in June 2020, 43.8 per cent in June 2021 and 44.5 per cent in June 2022).

As credit score progress is outpacing deposit progress within the latest interval, the credit-deposit (C-D) ratio has been on the rise, the information confirmed.

In June 2022, C-D ratio stood at 73.5 per cent at all-India stage (70.5 per cent a yr in the past) and 86.2 per cent for metropolitan branches of banks (84.3 per cent a yr in the past).





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