Bank Deposits Grow at 12.3 Percent to Rs 81 L cr in Q2

HYDERABAD: Bank deposits grew in double digits at 12.3 per cent to touch Rs 81.14 lakh crore during the second quarter of the current fiscal, according to the latest data released by the Reserve Bank of India.

Bank deposits growth was 11.5 per cent at Rs  72.26 lakh crore during the corresponding period a year ago.

“Growth in aggregate deposits accelerated to 12.3 per cent in September 2014 from 11.5 per cent a year ago, whereas gross bank credit decelerated to 9.5 per cent from 15.1 per cent 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 its report on Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks: September 2014.

The RBI report added that the credit grew at 9.4 per cent to Rs 61.57 lakh crore during the July-September quarter of 2014-15.

The credit growth was 15.05 per cent (Rs 48.88 lakh crore) a year ago.

Public sector banks together accounted for 74 per cent share in aggregate deposits and 71.7 per cent share in gross bank credit followed by private sector banks at 18.7 per cent and 20.5 per cent respectively at end-September, 2014.

Meanwhile, the credit-deposit ratio for all scheduled commercial banks stood at 75.9 per cent as on end-September, 2014, led by metropolitan branches, the report revealed.It added that for other population groups (other than metropolitan), the credit-deposit ratio was lower than the all-India level.

The credit-deposit ratio of four states and Union territories stood above 100 per cent. These include Tamil Nadu at 121.6 percent, Chandigarh at 115.9 percent, Andhra Pradesh 114.5 percent and Telangana at 104.6 percent.

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