NEWS & ADVICE : FIXED DEPOSITS
Banks record lower growth rate in last 3 quarters this fiscal: RBI data
By Neelima Shankar
Dec 27, 2012
Print    Email    RSS   

Data released by the monetary regulator, Reserve Bank of India (RBI), has revealed that the growth rate recorded by banks (in respect to advances and deposits) has been at a slower rate so far as against the growth rate recorded during the same period last year.

The data shows that as on December 14, the combined growth rate of all Indian banks in advances section has been 5.7 percent, which is lower than 7.8 percent which was reported last fiscal. Similarly, the deposits growth stands at 5.6 percent, as compared to 6.5 percent which was recorded the previous fiscal.

On the matter, a senior private sector bank executive said that the credit growth is associated with the nominal GDP growth. If the GDP growth rate is slow, then obviously the advances and deposits growth rate will also be slow.

Industry experts expect the total advances growth rate to be around 14 percent to 16 percent this fiscal. In the current fiscal's second monetary policy review, RBI had lowered its credit and deposits growth expectations by 1 percent to 16 percent for advances growth and 14 percent for deposits growth.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
FMPs or FDs: Make an informed choice
Plan your tax, don’t evade it
Infrastructure bonds: another tax saving...
Planning to invest in a bank FD? Think again
Fixed deposits in India: Benefits,...


Sakeela.CaℒL Giℛℒs In Kharar 0985566O911...
NANGAL: CaℒL Giℛℒ In Una 09855660911 Escoℛt...
Chandigarh@CaℒL Giℛℒ In Rajpura +O9855660911...

NEWS THIS WEEK
Federal Bank launched V connect for its customers Feb 12, 2015
Andhra Bank on expansion mode Feb 11, 2015
Dena Bank earned a profit of 13%. Feb 9, 2015
Banks expected to cut down the rates Feb 5, 2015
RBI kept the rates unchanged Feb 4, 2015
News Archive