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Deposit expansion of scheduled commercial banks (SCBs) stood at 12.9 per cent while credit growth was at 12.1 per cent for the quarter ended September, led by higher contribution by public sector banks, RBI today said. "The acceleration in both, deposits as well as credit, was broad based and observed across all population groups as also bank groups with exception of growth in bank credit by foreign banks," RBI said in its Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks: September 2016. It said public lenders continued to maintain their leading position, accounting for 70 per cent of total deposits and 67 per cent of credit in the quarter. Term deposits constituted the highest share (63.6 per cent) in aggregate deposits followed by savings (28.1 per cent) and current deposits (8.3 per cent). Seven states -- Maharashtra, NCT of Delhi, Tamil Nadu, Karnataka, Uttar Pradesh, West Bengal and Gujarat -- accounted for 68 per cent of the total business (deposits plus credit) of the banks in the country. "These seven states together accounted for 66 per cent of deposits and 72 per cent of credit, at all-India level," RBI data showed. As of the end of the reporting quarter, the credit deposit (C-D) ratio of all SCBs at all-India level stood at 74.5 per cent.
At 85.6 per cent, the ratio of private banks came in higher. For state-owned banks, the figure stood at 71.2 per cent. Among the 36 states/Union Territories, 6 had credit deposit ratio higher than the all-India level. The ratio is the highest for Tamil Nadu (107.5 per cent) followed by Chandigarh (103 per cent), Andhra Pradesh (102.3 per cent), Maharashtra (100.2 per cent), Telangana (99.3 per cent) and NCT of Delhi (87.7 per cent), RBI said.