a year ago bank Credit According to RBI data, the growth rate stood at 7.0 percent.
Credit growth has been broad-based with all populations and Bank Groups registering double digit annual growth.
“Total deposit growth (YoY), which has been around 9.5-10.2 per cent since June 2021, to be 9.8 per cent in September 2022; in rural, semi-urban and urban areas,” the press release said. Private sector banks are leaving behind public sector banks, foreign banks and regional rural banks in deposit collection.
According to the release, deposit growth accelerated to 10.2 per cent in September 2022 from 6.4 per cent a year ago, while current and savings deposit growth slowed to 8.8 per cent and 9.4 per cent from 17.5 per cent and 14.5 per cent, respectively. respectively, a year ago.
The share of savings deposits in total deposits, which increased from 32.4 per cent in June 2019 to a peak of 35.2 in June 2022, declined marginally to 34.7 in the latest quarter.
The all-India debt-deposit (CD) ratio rose to 74.8 per cent in September 2022 from 73.5 per cent a quarter ago and 70.0 per cent a year ago; CD The ratio for metropolitan bank branches, which account for a major share of banking business, was much higher at 87.6 per cent in September 2022 (82.8 per cent a year ago).