RBI says bank credit growth is steadily increasing

0


The Reserve Bank of India (RBI) said in a latest update that bank credit growth (year-on-year) has increased steadily in successive quarters of the 2021-22 financial year and rose to double digits in March. 2022. Metropolitan centers, which constitute a dominant share in total SCB bank credit, recorded credit growth of 9.7% (year-on-year) in March 2022 (1.7% a year ago); credit growth in urban, semi-urban and rural centers remained in double digits in all quarters of 2021-22.

Private sector banks maintained double-digit credit growth (year-on-year) which accelerated in successive quarters to reach 15.1% in March 2022. improved considerably, from 3.6% a year ago to 7.8% in March 2022.

Overall deposit growth (year-on-year) moderated to 10.2% in March 2022 (12.3% a year ago); a deceleration in deposit growth was observed in all banking groups. The share of deposits in current and savings accounts (CASA) in total deposits increased slightly and stood at 45.1% in March 2022; CASA filings accounted for 55.6% of incremental filings in 2021-22. The all-India credit-to-deposit (CD) ratio improved slightly to 71.9% in March 2022 (71.5% a year ago).

Powered by Capital Market – Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear reader,

Business Standard has always endeavored to provide up-to-date information and commentary on developments that matter to you and that have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative opinions and incisive commentary on relevant topical issues.
However, we have a request.

As we battle the economic impact of the pandemic, we need your support even more so that we can continue to bring you more great content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of bringing you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we are committed to.

Support quality journalism and subscribe to Business Standard.

digital editor

Share.

About Author

Comments are closed.