Banks post faster growth in H1FY14

Banks' investments in securities grew at 8.9% to Rs 21,8400 cr during March-end and September 20

Indian banks' loans and deposits grew faster in the first six months of the current financial year, compared to the same period a year earlier.

According to the Reserve Bank of India (RBI) data, banks’ loans grew at 10.1 per cent to Rs 57,94,000 crore between March-end and September 20, faster than 3.4 per cent a year earlier, while deposits rose at 9.3 per cent to Rs 73,77,000 crore compared with 6.5 per cent a year earlier.  

Banks’ investments in securities grew at 8.9 per cent to Rs 21,8400 crore during March-end and September 20, compared with 12.1 per cent in the same period of the previous year.

However, on a year-on-year basis, the credit rose to 17.9 per cent for 12 months ended September 20 while deposits rose to 14.05 per cent, according to RBI data.