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RBI Says Bank Credit Growth Rises Steadily
26-May-22   15:14 Hrs IST

Reserve Bank of India (RBI) stated in a latest update that the Bank credit growth (y-o-y) rose steadily over the successive quarters of financial year 2021-22 and moved to double-digits in March 2022. Metropolitan centres, which constitute a dominant share in total bank credit of SCBs, recorded 9.7 per cent credit growth (y-o-y) in March 2022 (1.7 per cent a year ago); credit growth in urban, semi-urban and rural centres remained in double digits in all quarters of 2021-22.

Private sector banks maintained double digit growth in credit (y-o-y) which accelerated in successive quarters to reach 15.1 per cent in March 2022. Growth in lending by public sector banks improved significantly to 7.8 per cent in March 2022 from 3.6 per cent a year ago.

Aggregate deposits growth (y-o-y) moderated to 10.2 per cent in March 2022 (12.3 per cent a year ago); deceleration in deposit growth was observed across all bank groups. The share of current account and savings account (CASA) deposits in total deposits rose marginally and it stood at 45.1 per cent in March 2022; CASA deposits had 55.6 per cent share in incremental deposits during 2021-22. The all-India credit-deposit (C-D) ratio improved marginally to 71.9 per cent in March 2022 (71.5 per cent a year ago).

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