The latest report released by regulator, Reserve Bank of India has shown a dip in the total business of banks in terms of both loans as well as deposits. For the fortnight ended on October 21, 2011, the total lending by banks showed a dip by Rs 3684 crore as compared to fortnights prior to this.
The total lending by banks in this fortnight has amounted to Rs 40,81,598 crore.
However, so far the annual credit growth of banks is ahead of RBI's target of 18% given for this fiscal. The loan growh of banks presently stands at 19.3%.
Deposits have seen a drop by Rs 5946 crore in the same fortnight thus standing at Rs 56,18,986 crore on October 21.
Although fixed deposit rates have been given a boost by banks, deposits happened to drop.