Metropolitan branches continue to account for more than half of bank deposits.
Mumbai:
Bank credit growth in the quarter ended June 2022 jumped to 14.2 per cent from 6 per cent in the same period last year, RBI data showed on Thursday.
Bank credit grew by 10.8 per cent in the quarter ended March 2022.
The Reserve Bank of India (RBI) on Thursday released ‘Quarterly Statistics on Deposits and Credits of SCBs for June 2022’. This data is collected from all Scheduled Commercial Banks (SCBs), including Regional Rural Banks (RRBs), Small Finance Banks (SFBs) and Payments Banks (PBs).
“Credit growth has been broad based: all population groups (i.e., rural, semi-urban, urban and metropolitan), all bank groups (ie, public/private sector banks, foreign banks, RRBs and SFBs) and all country The regions (i.e., central, eastern, north-eastern, northern, southern and western) registered double-digit annual credit growth in June 2022,” according to the data.
Gross deposit growth (YoY) during the last five quarters has been in the range of 9.5-10.2 per cent.
Metropolitan branches continue to account for more than half of bank deposits and their share has increased marginally over the past 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 has been outpacing deposit growth in the recent period, the credit-deposit (CD) ratio has been rising, the data showed.
In June 2022, the all-India CD ratio stood at 73.5 per cent (70.5 per cent a year ago) and 86.2 per cent for metropolitan branches of banks (84.3 per cent a year ago).