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Bank credit growth lags deposit growth, says RBI data

BS Reporter  |  Mumbai 

Credit growth in the country continues to be behind deposit growth. The Reserve Bank of India's data released on Wednesday shows credit grew by 14.85 per cent year-on-year (y-o-y) as on January 10. On a y-o-y basis it stood at 15.56 per cent in the same period.

On a fortnight basis ending on January the credit grew by 0.59 per cent, while deposits recorded a growth of 0.63 per cent.

The monetary transmission in the system has been slower because have been reluctant to hike lending rate much due to slow credit pick-up.

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First Published: Thu, January 23 2014. 00:50 IST