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Telangana banks' advances grew 0.37% to Rs 1,966 cr in first half of FY20

Total advances by all sources - public sector banks, private sector banks and co-operative banks rose to Rs 53,5840.18 crore in September 2019 from Rs 5,33,874,07 crore in March, 2019.

BS Reporter  |  Hyderabad 

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Total advances by the in grew by a marginal 0.37 per cent at Rs 1,966.21 crore in the first half of the current financial year between April-September, 2019, drastically altering the credit-deposit ratio during the period, according to the data compiled by the State Level Bankers Committee (SLBC).

Total advances by all - public sector banks, and co-operative banks - rose to Rs 5,35,840.18 crore in September 2019 from Rs 5,33,874,07 crore in March, 2019. Even this flat growth was possible due to the improvement of the situation in the July-September period as the advances actually declined by 1.4 per cent to Rs 5,33,106.75 crore during the first quarter.

On the other hand, the growth of banks' total deposits stood at 5.99 per cent in the first half even though almost all of that growth came in the latter half of the year thanks to the sudden jump in deposits in the second quarter.

Total deposits of the banks grew by just 0.32 per cent at Rs 1,437 crore between April-June period while the same grew disproportionately by Rs 25,798.33 crore in the next three-month period taking the total deposit growth to 5.99 per cent in the six month period. As a result, the credit-deposit ratio fell to 111.28 per cent as compared to 117.52 per cent as on March 31, 2019. The bankers committee did not give any reason for this steep jump in deposits during the second quarter.

State Bank of India (SBI) and account for 70 per cent of the total deposits and 50.8 per cent of the total advances of the public sector banks in the state.

First Published: Mon, December 23 2019. 20:54 IST