Deposits rises 12.2% as on 14 November 2014
The credit growth for Scheduled commercial banks' (SCBs) remained nearly flat for the fourth straight fortnight at 11% as on 14 November 2014, though showed a pick from five-year low of 9.7% as on 05 September 2014.The credit growth has moderated from 13.9% growth in November 2013. Non-food credit, accounting for 98.3% of the share of the total credit, grew 11.1% to Rs 61470.91 billion on 14 November 2014 as against a rise of 14.3% a year ago.
The overall credit-deposit ratio was nearly steady at 75.8% as on 14 November 2014 compared with 75.9% in November 2013, while remained sharply lower compared to 77.8% at end March 2014.
Aggregate deposits growth of the scheduled banks increased 12.2% to Rs 82536.3 billion on 14 November 2014 over a year ago, compared with 15.6% increase in November 2013. The time deposits moved up 12% at Rs 75129.64 billion, while demand deposits increased 14.2% to Rs 7406.75 billion as on 14 November 2014.
Banks' investment in government and other approved securities that qualify for treatment of statutory liquidity ratio increased 9.9% to Rs 24139.95 billion as on 14 November 2014 over a year ago, showing moderating in the pace of growth from 12.8% increase in November 2013. The investment-deposit ratio stood at 29.2% as on 14 November 2014, down from 29.8% end November 2013.
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