 "Banks' loans, deposits grow slower so far vs RBI's FY14 estimate")
Banks' loan and deposit growth has been slower so far in the current fiscal year than the Reserve Bank of India's full-year projection, according to data released by the central bank.
Banks' loans grew around 11% to Rs 58.46 lakh crore, while deposits rose 12% to Rs 75.64 lakh crore from March 22 to October 4, data released on Tuesday showed, mainly due to the overall slowdown in GDP growth in Asia's third-largest economy.
The RBI projects loans to grow at 15% and deposits by 14% in the current fiscal year ending in March 2014.
Banks' investments in government securities rose 12% to Rs 22.47 lakh crore in the same period.
Banks' loans grew around 11% to Rs 58.46 lakh crore, while deposits rose 12% to Rs 75.64 lakh crore from March 22 to October 4, data released on Tuesday showed, mainly due to the overall slowdown in GDP growth in Asia's third-largest economy.
The RBI projects loans to grow at 15% and deposits by 14% in the current fiscal year ending in March 2014.
Banks' investments in government securities rose 12% to Rs 22.47 lakh crore in the same period.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%