SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 14 Mar, 2024  

Rupee.9.Thmb.jpg Credit off-take from banks continues to grow: CARE Ratings

Rupee.9.jpg
   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
IANS | 12 Mar, 2024
Credit off-take from banks continued to grow, increasing by 20.5 per cent year-on-year (y-o-y) to reach Rs 162.1 lakh crore, for the fortnight ending February 23, 2024, said CARE Ratings.

In its latest report, CARE Ratings said the rise can continue to be attributed to the impact of HDFC’s merger with HDFC Bank along with the growth in personal loans.

"If we exclude the impact of the merger, credit grew at 16.5 per cent y-o-y for the fortnight compared to last year’s growth of 15.5 per cent. Meanwhile, the outlook for bank credit offtake continues to remain positive," it said.

The deposits too grew by 13.1 per cent y-o-y for the fortnight (including the merger impact) and reached Rs. 202.0 lakh crore as of February 23, driven by growth in time deposits.

Excluding the merger impact, growth stood at 12.5 per cent. Sequentially, it remained flat.

Deposit growth is expected to improve compared to earlier periods as banks look to shore up their liability franchise and ensure that deposit growth does not constrain credit off-take, the report notes.

 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
PM Modi's recent US visit to redefine India-US bilateral relations
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter