The Bank credit growth increased from 6% in the quarter that ended in June 2021 to 14.2% in the quarter that concluded in June 2022 as per the data released by the Reserve Bank of India. The Bank credit has increased by 10.8% in the three months that ended in March 2022. The last five quarters have seen a consistent 9.5 to 10.2% annual growth in aggregate deposits.
Highlights of the RBI Report:
- The “Quarterly Statistics on Deposits and Credit of SCBs for June 2022” were published by the Reserve Bank of India (RBI Report).
- All scheduled commercial banks (SCBs), including small financing banks (SFBs), regional rural banks (RRBs), and payments banks, provide this information (PBs).
- The last five quarters have seen a consistent 9.5 to 10.2% annual growth in aggregate deposits.
- Metropolitan branches continue to account for more than half of all bank deposits, and during the past year, their share has slightly increased.
More in RBI Report:
- Over the past three years, the percentage of current account and savings account (CASA) deposits in total deposits has risen (42% in June 2020, 43.8% in June 2021, and 44.5% in June 2022), according to the RBI Report.
- The statistics of RBI Report showed that the credit-deposit (C-D) ratio has increased as credit growth has recently outpaced deposit growth.
- In June 2022, the C-D ratio for all of India was 73.5% (up from 70.5% the year before), and it was 86.2% for metropolitan bank branches (up from 84.3% the year before), according to the RBI Report.