Agriculture, industry fuelled credit demand

(In Rs cr)

Outstanding

Y-o-Y
growth in %

Aggregate Deposits

20,96,624

17.4

Demand deposits

3,32,074

27.1

Time Deposits

17,64,550

15.7

Non-food credit

11,83,909

31.5

 The year-on-year growth in time deposits as on September 30, 2005 at 15.7 per cent was higher than a year ago, benefiting from modest increases in deposit rates and reflecting base effects of a low growth during the previous year. There was some deceleration in growth of small savings to 20.6 per cent by end-August 2005 from 23.3 per cent in December 2004.  Nonetheless, the growth of small savings still remains substantially higher than that of time deposits, reflecting both higher interest rates and tax incentives.