MUMBAI: The annual improve in financial institution credit score continues to outpace deposit progress by a excessive margin even after the bottom impact created by the merger of HDFC with HDFC Financial institution dissipated post-merger.
Based on knowledge launched by RBI, financial institution credit score grew by 14% yr on yr as of July 12 whereas deposit progress for a similar interval was 11.3%.
RBI knowledge reveals that prospects moved Rs 2.1 lakh crore out of financial savings and present accounts in the course of the fortnight ended July 12, 2024.Throughout the identical interval, they invested a further Rs 1 lakh crore in fastened deposits.
With excellent deposits falling by Rs 1 lakh crore in the course of the fortnight to Rs 211.7 lakh crore and financial institution credit score declining by Rs 69,755 crore to Rs 168.1 lakh crore, the wedge between deposit and credit score progress widened. As of July 12, the ratio of credit score to deposits stood at 79.4%. The credit-deposit ratio has been hovering near 80% for a lot of the monetary yr.
Based on knowledge launched by RBI, financial institution credit score grew by 14% yr on yr as of July 12 whereas deposit progress for a similar interval was 11.3%.
RBI knowledge reveals that prospects moved Rs 2.1 lakh crore out of financial savings and present accounts in the course of the fortnight ended July 12, 2024.Throughout the identical interval, they invested a further Rs 1 lakh crore in fastened deposits.
With excellent deposits falling by Rs 1 lakh crore in the course of the fortnight to Rs 211.7 lakh crore and financial institution credit score declining by Rs 69,755 crore to Rs 168.1 lakh crore, the wedge between deposit and credit score progress widened. As of July 12, the ratio of credit score to deposits stood at 79.4%. The credit-deposit ratio has been hovering near 80% for a lot of the monetary yr.
