Credit grows steadily by 14%, deposit growth intact at 13.4%: RBI
Bank credit grew by 14.1 per cent year-on-year in the fortnight ended May 31, while deposit growth continued to lag behind at 13.4 per cent, Reserve Bank of India data showed.
According to latest data released by Reserve Bank of India, banks disbursed new credit worth about Rs 48,900 crore during the fortnight while the accumulated deposits worth about Rs 92,200 crore in the fortnight.
The central bank has pegged credit and deposit growth at 15 and 14 per cent respectively for this year, but the growth figures in first two months have missed estimates.
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