Kolkata: Banks' annual credit growth at the end of October 31 stood at 11.3% while deposits grew 9.7%, Reserve Bank of India data showed.
The credit growth was seen at 11.5% a fortnight back while deposits growth print was at 9.5%.
This means the gap between credit and deposit growth prints narrowed to 160 basis points at the end of October 31 as compared with the 200 basis points seen on October 17.
Exactly a year back, the gap in credit and deposit growth was merely 10 basis points with credit expanded 11.8% while deposit grew at 11.7% year-on-year, the central bank's weekly statistical supplement showed.
Demand deposits rose 21% year-on-year to Rs 31 lakh crore against 17% rise seen a fortnight back. This reflects that banks managed to grow the low cost current and savings deposits faster during this period. The time deposits, which are known as fixed deposits, grew 8.3% to Rs 211 lakh crore.
The credit growth was seen at 11.5% a fortnight back while deposits growth print was at 9.5%.
This means the gap between credit and deposit growth prints narrowed to 160 basis points at the end of October 31 as compared with the 200 basis points seen on October 17.
Exactly a year back, the gap in credit and deposit growth was merely 10 basis points with credit expanded 11.8% while deposit grew at 11.7% year-on-year, the central bank's weekly statistical supplement showed.
Demand deposits rose 21% year-on-year to Rs 31 lakh crore against 17% rise seen a fortnight back. This reflects that banks managed to grow the low cost current and savings deposits faster during this period. The time deposits, which are known as fixed deposits, grew 8.3% to Rs 211 lakh crore.