Comments
Deposits of all scheduled banks collectively surged by a whopping ₹3.82 lakh crore in the fortnight ended December 30, 2022, even as their advances grew moderately at ₹1.53 lakh crore , according to RBI’s Scheduled Banks’ Statement of Position in India.
A break-up of the deposits accretion during the reporting fortnight shows that time deposits and demand deposits rose by ₹2.13 lakh crore and ₹1.68 lakh crore respectively.
Banks usually bulk up short-term deposits and advances in the run-up to the quarter-end.
Deposit growth in absolute terms outpaced credit growth only in the last couple of fortnights of December 2022 as banks raised term deposit rates. They upped the rates in view of sustained credit growth. Some banks even raised savings bank deposit rates.
Overall, as of December 30, 2022, year-on-year deposit and credit growth stood at 8.92 per cent and 14.70 per cent, respectively.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.