Bank's deposit grows at 12.3% to Rs 81 lakh crore in Q 2 FY15

NEW DELHI: Bank deposits grew by 12.3 per cent to Rs 81.14 lakh crore in the second quarter of the current fiscal.

Bank deposits growth was 11.5 per cent (Rs 72.26 lakh crore) in the corresponding July-September quarter of 2013-14.

"This acceleration in aggregate deposits as well as deceleration in gross bank credit was broad based and observed across all population groups," RBI said in a data release on Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks: September 2014.

The credit grew at 9.4 per cent to Rs 61.57 lakh crore during the July-September quarter of 2014-15. The credit growth was 15.05 per cent (Rs 48.88 lakh crore) a year ago.

Public sector banks together accounted for .. 74 per cent share in aggregate deposits and 71.7 per cent share in gross bank credit, while private sector banks' share stood at 18.7 per cent and 20.5 per cent respectively at end-September 2014.

The credit-deposit (CD) ratio for all banks was 75.9 per cent as on end-September 2014, led by metropolitan branches.

COMMENT: "Growth in aggregate deposits accelerated to 12.3 per cent in September 2014 from 11.5 per cent a year ago whereas gross bank credit decelerated to 9.5 per cent from 15.1 per cent during the year.

ANAND MAURYA

PGDM-3SEM