Bank credit growth at 7.6% as on 03 January 2020

Deposits rises 9.8% as on 03 January 2020

The credit growth of scheduled commercial banks (SCBs) has improved to 7.6% YoY to Rs 10044845 crore as on 03 January 2020, compared with 7.1% growth a fortnight ago. However, the credit growth has decelerated from 14.8% at end January 2019.

Non-food credit, accounting for 99.2% of the share of the total credit, recorded a growth of 7.5%, YoY, to Rs 9961343 crore as on 03 January 2020 as against a rise of 7.1% fortnight ago and 13.8% rise a year ago.

Food credit moved up 15.4% to Rs 83502 crore as on 03 January 2020.

Aggregate deposits growth of the scheduled banks increased 9.8% YoY at Rs 13210358 crore as on 03 January 2020, compared with 10.1% growth a fortnight ago and 9.6% rise a year ago. The time deposits showed an increase of 9.7% at Rs 11842466 crore, while the demand deposits moved up 10.9% to Rs 1367893 crore as on 03 January 2020.

The overall credit-deposit ratio declined on sequential basis to 76.0% as on 03 January 2020 from 76.5% a fortnight ago and 78.0% in January 2019 with the faster growth in deposits.

The banks investment in government and other approved securities that qualify for treatment of statutory liquidity ratio jumped 11.5% YoY to Rs 3771250 crore as on 03 January 2020, showing acceleration in growth from 10.9% increase a fortnight ago. The banks investment had declined 0.1% in January 2019. The investment-deposit ratio rose to 28.5% as on 03 January 2020, which is much higher above the Statutory Liquidity Ratio of 18.25%.

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