Trend shift? Bank deposits rise four times versus credit outflows

Against the ongoing trend, scheduled commercial banks mobilised about four times more in deposits than the credit disbursed in the fortnight ended November 4. While the hard push at branches and aggressive deposit rate hikes are bearing fruit, such a wide gap appears to be an outlier and needs further scrutiny, said bankers.

Sequentially, credit rose by Rs 0.43 trillion to Rs 129.26 trillion and deposits grew by Rs 1.7 trillion to Rs 173.7 trillion in the reporting fortnight, Reserve Bank of India (RBI) data showed.

A senior State Bank of India (SBI) executive said there is a lot of aggression at