Credit, deposit growth picks up pace in last fortnight of 2012-13: RBI

Posted By: Religare
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The Reserve Bank of India (RBI) data showed that credit and deposit growth, which remained subdued throughout the year, picked up pace during the last fortnight of just ended financial year.

The data showed banks mopped up deposits of about Rs 1.54 lakh crore to achieve year end targets while they disbursed fresh credit of about Rs 83,500 crore in the same fortnight that ended on April 5, 2013.

Deposit growth was 13.21 per cent year-on-year, while credit growth stood at 13.91 per cent.

This was close to the projections of RBI at 16 per cent credit growth and 15 per cent deposit growth for FY13.

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