Indian bank deposits outpace credit growth

Thursday, 12 January 2012 00:29 -     - {{hitsCtrl.values.hits}}

MUMBAI (Reuters): Indian bank credit growth lagged an increase in deposits as of 30 December, data from the Reserve Bank of India showed.

Bank credit stood at Rs. 43,656.45 billion ($ 846.1 billion), up 2.3 percent from 16 December, while deposits were 2.7 per cent higher at Rs. 58,279.09 billion.

On a year-on-year basis, credit grew 15.9 per cent, while deposits were up 16.9 per cent.