Public sector banks elevated their credit portfolio by 15.7% in the course of the calendar 12 months 2022 (4.7% in 2021); corresponding growth for personal sector banks, nonetheless, remained greater at 19.1% (13.1% a 12 months earlier), the RBI mentioned.
| Photo Credit: FRANCIS MASCARENHAS
Bank credit growth slowed down to 16.8% in the October-December 2022 interval from a 12 months earlier, RBI knowledge confirmed. This compares with 17.2% seen in the earlier quarter, in accordance to the quarterly statistics on financial institution deposits and credit, launched by the Reserve Bank of India on Monday
A 12 months earlier, credit growth was 8.4%.
“Growth in credit was led by bank branches in metropolitan centres, which account for nearly 60% of the total credit by SCBs [scheduled commercial banks] and recorded 17.2% rise (y-o-y) in lending; urban, semi-urban and rural centres also recorded double digit credit growth,” the RBI mentioned.
Public sector banks elevated their credit portfolio by 15.7% in the course of the calendar 12 months 2022 (4.7% in 2021); corresponding growth for personal sector banks, nonetheless, remained greater at 19.1% (13.1% a 12 months earlier), it mentioned.
Aggregate deposits elevated by 10.3% (y-o-y) in December 2022, led by 13.2% growth in time period deposits; present and financial savings deposits recorded reasonable growth of 4.6% and seven.3%, respectively.
Deposit mobilisation by public sector banks improved to 8.8% growth in December 2022 (6.9% a 12 months earlier) although it remained decrease than the 13.2% growth in deposits seen in personal sector banks.
The all-India credit-deposit (C-D) ratio elevated additional to 75.9% in December 2022 (74.8% in the earlier quarter and 71.6% in December 2021); it remained above 100% for Andhra Pradesh, Maharashtra, Tamil Nadu, and Telangana, the RBI mentioned.
