Banks' loans, deposits grow slower so far vs RBI's FY14 estimate
The RBI projects loans to grow at 15% and deposits by 14% in the current fiscal yea
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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.
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First Published: Oct 16 2013 | 11:18 AM IST