RBI released Quarterly Statistics on Deposits and Credit of SCBs

by Psu Connect
Date: 25-02-21

Growth (Y-o-Y) in credit by private sector banks decelerated considerably to 6.7 percent in December 2020 (13.1 percent a year ago)

New Delhi: The Reserve Bank released Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks (SCBs), December 2020 on its Database on Indian Economy (DBIE) portal. The Bank credit growth (Y-o-Y) improved to 6.2 percent in December 2020 from 5.8 percent in the previous quarter but it remained lower when compared with 7.4 percent growth recorded a year ago; all population groups (i.e., rural, semi-urban, urban, and metropolitan) recorded lower growth when compared to a year ago.

Growth (Y-o-Y) in credit by private sector banks decelerated considerably to 6.7 percent in December 2020 (13.1 percent a year ago), whereas that for public sector banks improved to 6.5 percent in December 2020 (3.7 percent in December 2019).

Aggregate deposit growth (Y-o-Y) of SCBs increased to 11.1 percent in December 2020 (10.0 percent a year ago); all population groups recorded double-digit growth.

Annual growth in current, savings, and term deposits of SCBs stood at 13.0 percent, 15.8 percent, and 8.2 percent, respectively, in December 2020; higher growth in the current account and savings account (CASA) deposits resulted in their higher share of 42.8 percent in total deposits (41.2 percent a year ago).

All-India credit-deposit (C-D) ratio improved marginally to 72.5 percent in December 2020 from 72.0 percent in the previous quarter; the C-D ratio of metropolitan branches, which account for over half of the banking business in India, stood at 87.5 percent.