Banks see year-end surge in credit, deposit

Disbursed fresh credit of Rs 83,500 cr in the fortnight ended April 5

In the last fortnight of the last financial year the banks mopped up deposits of about Rs 1. 54 lakh crore to achieve year end targets.

They also disbursed fresh credit of about Rs 83,500 crore in the fortnight ended April 5, a data from Reserve Bank of India (RBI) released today.

On year-on-year basis, credit growth was 13.91% and deposit growth was at 13.21%.

RBI had projected 16% credit growth and 15% deposit growth for FY13.

In March, some of the banks had hiked their deposit rates to attract deposits.