Bank credit growth accelerated to 14.2 per cent in the quarter ended June 2022 from 6 per cent in the same period of the previous year, RBI data showed on Thursday.
In the quarter ended March 2022, bank credit had expanded by 10.8 per cent.
The Reserve Bank of India (RBI) on Thursday released the 'Quarterly Statistics on Deposits and Credit of SCBs for June 2022'. This data is collected from all scheduled commercial banks (SCBs), which include regional rural banks (RRBs), small finance banks (SFBs) and payments banks (PBs).
"Credit growth has been broad-based: all the population groups (i.E., rural, semi-urban, urban and metropolitan), all the bank groups (i.E., public/private sector banks, foreign banks, RRBs and SFBs) and all the regions of the country (i.E., central, eastern, north-eastern, northern, southern and western) recorded double-digit annual credit growth in June 2022," as per the data.
Aggregate deposit growth (year-on-year) has remained in the range 9.5 - 10.2 per cent during the last five quarters.
Metropolitan branches continue to account for over half of the bank deposits and their share increased marginally over the last one year.
The share of current account and savings account (CASA) deposits in total deposits has been increasing over the last three years (42 per cent in June 2020, 43.8 per cent in June 2021 and 44.5 per cent in June 2022).
As credit growth is outpacing deposit growth in the recent period, credit-deposit (C-D) ratio has been on the rise, the data showed.
In June 2022, C-D ratio stood at 73.5 per cent at all-India level (70.5 per cent a year ago) and 86.2 per cent for metropolitan branches of banks (84.3 per cent a year ago).
