Deposits growth flat at 10.9% as on 28 August 2020The Scheduled commercial banks (SCBs) credit growth was steady on sequential basis to 5.5% YoY to Rs 10211730 crore as on 28 August 2020, compared with 5.5% growth a fortnight ago. The credit growth has decelerated from 10.2% at end July 2019. Non-food credit, accounting for 99.4% of the share of the total credit, recorded a growth of 5.5%, YoY, at Rs 10145789 crore as on 28 August 2020 as against a rise of 5.5% fortnight ago and 10.1% rise a year ago. Food credit moved up 5.7% to Rs 65941 crore as on 28 August 2020. The overall credit-deposit ratio eased on sequential basis to 72.0% as on 28 August 2020 from 72.6% a fortnight ago, while eased from 75.7% in July 2019 with the faster growth in deposits.
Aggregate deposits growth of the scheduled banks increased 10.9% YoY at Rs 14176765 crore as on 28 August 2020, compared with 11.0% growth a fortnight ago and 9.7% rise a year ago. The time deposits showed an increase of 10.7% at Rs 12635329 crore, while the demand deposits increased 12.9% to Rs 1541435 crore as on 28 August 2020.
The banks investment in government and other approved securities that qualify for treatment of statutory liquidity ratio jumped 21.7% YoY to Rs 4356412 crore as on 28 August 2020, showing acceleration in growth from 21.4% increase a fortnight ago. The banks investment had moved up 2.1% in July 2019. The investment-deposit ratio declined to 30.7% as on 28 August 2020.
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