RBI says bank credit growth is steadily increasing


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).

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

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