According to the recent data and report an increase in bank’s deposit and credit growth has been noticed. The bank’s deposit growth has increased by 14.8% i.e. up to Rs 78,88,416 crore. The deposit growth has increased faster than the credit growth.
Last year the deposits of the commercial banks stood at Rs 68,68,811 crore and this year it went up to Rs 78,88,416 crore. On the other hand an increase of 13.8% is recorded in the credit growth of the banks. Last year the credit of the banks was 53,29,812 crore and this year it has went up to Rs `60,67,459 crore. Demand depositincreased by 16.04 per cent to ` 7,48,231 crore from `6,44,764 crore in the year ago.
By the end of 18th April the deposits of the commercial banks increased by marginally by 0.23 per cent to `78,88,416 crore as against `78,69,967 crore and Credit growth was up at `60,67,459 crore from `60,36,083 crore.