Credit growth slips below 10 pc; deposits up 14 pc

Bank credit growth continued to remain sluggish with addition being a tepid 9.6 per cent to Rs 61,40,925 crore for the fortnight to September 4, according to data released by the Reserve Bank of India here today.
However, during this period, deposits grew at a healthy 14 per cent to Rs 81,32,714 crore.
Deposits of commercial banks stood at Rs 71,47,778 crore in the same period last year.
The demand deposit grew 14.64 per cent to Rs 7,46,002 crore as of September 5 from Rs 6,50,705 crore in the year ago period.
Time deposit rose 13.69 per cent to Rs 73,86,712 crore in the period as against Rs 64,97,073 crore in the same period last year.