 "Banks post faster growth in H1FY14")
Indian banks' loans and deposits grew faster in the first six months of the current financial year, compared to the same period a year earlier.
According to the Reserve Bank of India (RBI) data, banks’ loans grew at 10.1 per cent to Rs 57,94,000 crore between March-end and September 20, faster than 3.4 per cent a year earlier, while deposits rose at 9.3 per cent to Rs 73,77,000 crore compared with 6.5 per cent a year earlier.
Banks’ investments in securities grew at 8.9 per cent to Rs 21,8400 crore during March-end and September 20, compared with 12.1 per cent in the same period of the previous year.
However, on a year-on-year basis, the credit rose to 17.9 per cent for 12 months ended September 20 while deposits rose to 14.05 per cent, according to RBI data.
According to the Reserve Bank of India (RBI) data, banks’ loans grew at 10.1 per cent to Rs 57,94,000 crore between March-end and September 20, faster than 3.4 per cent a year earlier, while deposits rose at 9.3 per cent to Rs 73,77,000 crore compared with 6.5 per cent a year earlier.
Banks’ investments in securities grew at 8.9 per cent to Rs 21,8400 crore during March-end and September 20, compared with 12.1 per cent in the same period of the previous year.
However, on a year-on-year basis, the credit rose to 17.9 per cent for 12 months ended September 20 while deposits rose to 14.05 per cent, according to RBI data.