Money & Banking
Overall, in the current financial year so far, the outstanding credit of Banks increased by ₹1,38,761 crore against a de-growth of ₹1,27,925 crore in the year-ago period.
Bank credit and deposits declined in the reporting fortnight ended May 20 after posting robust growth in the preceding fortnight.
The outstanding credit of all scheduled banks declined by ₹13,603 crore in the reporting fortnight ended May 20 against a growth of ₹81,070 crore in the preceding fortnight ended May 6, per RBI’s Scheduled Banks’ Statement of Position.
The outstanding deposits of all scheduled banks declined by ₹1,24,231 crore in the reporting fortnight against an increase of ₹69,277 crore in the preceding fortnight.
According to banking experts, short-term advances that banks typically build up in the run-up to financial year-end may have been repaid. Further, short-term deposits could have matured.
Overall, in the current financial year so far, the outstanding credit of Banks has increased by ₹1,38,761 crore against a de-growth of ₹1,27,925 crore in the year-ago period.
The outstanding bank deposits in the current financial year increased by ₹1,06,190 crore against an increase of ₹50,438 crore in the year ago .
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