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Our Bureau

Mumbai , Nov. 3

THE growth in bank deposits has slowed down in the quarter ended June 2005, while that of bank credit has accelerated.

According to statistics released by the Reserve Bank of India on Thursday, the rate of growth in aggregate deposits of top 100 centres of commercial banks was 18 per cent in the quarter ended June 2005, against 22.4 per cent in the corresponding period last year. The rate of growth in the quarter ended March 2005 was 18.7 per cent.

The annual growth rate of gross bank credit was higher at 32.9 per cent (including the impact of IDBI Ltd which was merged with IDBI Bank) in June 2005, compared to 19.8 per cent last year.

The gross bank credit grew by 31.6 per cent during the quarter ended March 2005.

Nationalised banks accounted for 49.2 per cent of aggregate deposits, while State Bank of India and its associates accounted for 25.1 per cent. The shares of foreign banks, regional rural banks (RRBs) and other scheduled commercial banks in aggregate deposits were at 4.7 per cent, 3.4 per cent and 17.6 per cent, respectively.

As regards gross bank credit, nationalised banks held the maximum shares of 47.7 per cent in total bank credit, SBI and its associates at 23.7 per cent, and other scheduled commercial banks at 19 per cent. Foreign banks and RRBs had relatively lower shares at 6.8 per cent and 2.8 per cent, respectively.

At the all-India level, the credit-deposit ratio (CD) ratio of all scheduled commercial banks as on June 24, stood at 66.5 per cent. Among the States and Union Territories, the highest CD ratio was observed in Tamil Nadu (99.8 per cent), followed by Chandigarh (97.3 per cent) and Maharashtra (95 per cent).

At the bank group level, the CD ratio was above the all-India level ratio in respect of foreign banks (96.4 per cent) and other scheduled commercial banks (71.7 per cent), and was lower for SBI and its associates (62.8 per cent), nationalised banks (64.5 per cent) and RRBs (54.8 per cent).

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