Today, the Reserve Bank released quarterly statistics on deposits and credit of scheduled commercial banks (SCBs), September 2022 on its Database on Indian Economy (DBIE) portal (web-link: https://dbie.rbi.org.in/DBIE/dbie.rbi?site=publications#!3). These data are collected from all SCBs under the Basic Statistical Return (BSR) – 7 system1, and statistics on bank credit and deposits are being released as per geography, population group and bank group level disaggregation. Highlights: -
Bank credit growth improved further to 17.2 per cent (y-o-y) in September 2022 from 14.2 per cent a quarter ago and 7.0 per cent a year ago. -
Credit growth remained broad-based: all population groups and bank groups recorded double digit annual growth. -
Aggregate deposits growth (y-o-y), which remained in the close range of 9.5-10.2 per cent since June 2021, stood at 9.8 per cent in September 2022; since December 2020, bank branches in metropolitan centres have been recording higher annual growth than those in rural, semi-urban and urban areas. -
Private sector bank group has been outpacing public sector banks, foreign banks and regional rural banks in deposit mobilisation. -
Growth (y-o-y) in term deposits rose to 10.2 per cent in September 2022 from 6.4 per cent a year ago, whereas current and savings deposits growth moderated to 8.8 per cent and 9.4 per cent from 17.5 per cent and 14.5 per cent, respectively, a year ago. -
The share of savings deposit in total deposits, which increased from 32.4 per cent in June 2019 to a peak of 35.2 in June 2022, moderated marginally to 34.7 in the latest quarter. -
All-India credit-deposit (C-D) ratio increased further to 74.8 per cent in September 2022 from 73.5 per cent a quarter ago and 70.0 per cent a year ago; C-D ratio for metropolitan bank branches, which have a dominant share in the banking business, stood much higher at 87.6 per cent in September 2022 (82.8 per cent a year ago). Rupambara Director (Communications) Press Release: 2022-2023/1264 | |