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Financial institution credits progress drops to 16.8% in October-December: RBI

Public sector banks increased their credit portfolio by 15.7% during the calendar year 2022 (4.7% in 2021); corresponding growth for private sector banks, however, remained higher at 19.1% (13.1% a year earlier), the RBI said.

Public sector banks greater their credits portfolio by way of 15.7% all the way through the calendar 12 months 2022 (4.7% in 2021); corresponding progress for personal sector banks, then again, remained upper at 19.1% (13.1% a 12 months previous), the RBI stated.
| Picture Credit score: FRANCIS MASCARENHAS

Financial institution credits progress slowed all the way down to 16.8% within the October-December 2022 length from a 12 months previous, RBI knowledge confirmed. This compares with 17.2% noticed within the earlier quarter, in keeping with the quarterly statistics on financial institution deposits and credits, launched by way of the Reserve Financial institution of India on Monday

A 12 months previous, credits progress used to be 8.4%.

“Expansion in credits used to be led by way of financial institution branches in metropolitan centres, which account for just about 60% of the whole credits by way of SCBs [scheduled commercial banks] and recorded 17.2% upward push (y-o-y) in lending; city, semi-urban and rural centres additionally recorded double digit credits progress,” the RBI stated.

Public sector banks greater their credits portfolio by way of 15.7% all the way through the calendar 12 months 2022 (4.7% in 2021); corresponding progress for personal sector banks, then again, remained upper at 19.1% (13.1% a 12 months previous), it stated.

Combination deposits greater by way of 10.3% (y-o-y) in December 2022, led by way of 13.2% progress in time period deposits; present and financial savings deposits recorded average progress of four.6% and seven.3%, respectively.

Deposit mobilisation by way of public sector banks advanced to eight.8% progress in December 2022 (6.9% a 12 months previous) although it remained not up to the 13.2% progress in deposits noticed in personal sector banks.

The all-India credit-deposit (C-D) ratio greater additional to 75.9% in December 2022 (74.8% within the earlier quarter and 71.6% in December 2021); it remained above 100% for Andhra Pradesh, Maharashtra, Tamil Nadu, and Telangana, the RBI stated.

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