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Bank credit growth down 5.6 pc in March
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SME Times News Bureau | 28 May, 2021
India's bank credit growth slowed down to 5.6 per cent in March 2021,
according to data published by the Reserve Bank of India (RBI) on
Friday.
In March 2020, credit growth was 6.4 per cent.
The
central bank's 'Quarterly Statistics on Deposits and Credit of SCBs:
March 2021' showed that combined credit by bank branches in top six
centres -- Greater Mumbai, Delhi, Bengaluru, Chennai, Hyderabad and
Kolkata -- which together accounted for over 46 per cent of total bank
credit, declined marginally during 2020-21.
Bank branches in
urban, semi-urban and rural areas, on the other hand, recorded 9.4 per
cent, 14.3 per cent and 14.5 per cent credit growth, respectively,
during the year.
Further, public sector and private sector banks
recorded 3.6 per cent and 9.1 per cent credit growth, respectively,
whereas lending by foreign banks declined during 2020-21.
Aggregate
deposits growth (y-o-y) accelerated to 12.3 per cent in March 2021 from
9.5 per cent a year ago. Metropolitan branches, which account for over
half of total deposits, recorded nearly 15 per cent growth during
2020-21.
The share of current account and savings account (CASA)
deposits in total deposits increased to 44.1 per cent in March 2021 from
42.1 per cent a year ago, showed the RBI data.
The share of
private sector banks in total deposits and credit by SCBs increased
during 2020-21 at the cost of public sector banks.
Lower growth
in credit in respect to deposits led to decline in the all-India
credit-deposit (C-D) ratio to 71.5 per cent in March 2021 from 76 per
cent a year ago.
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