Deposit growth at 15.3 pc continues to outgrow credit

Growth in bank deposits at 15.31 per cent to Rs 78,69,967 crore as of April 18 this year continues to outpace credit expansion, as per the latest RBI data.
Bank deposits stood at Rs 68,25,076 crore during same period last year, according to the RBI's fortnightly data.
Bank credit grew at 14.29 per cent to Rs 60,36,083 crore as of April 18 against Rs 52,81,173 crore in the same period last year.
The RBI's estimate of the credit growth for FY2014 was 15 per cent, while for deposits it was 14 per cent.
During the period, the time deposit grew 15.34 per cent to Rs 71,43,372 crore as against Rs 61,93,286 crore in the same period last year.

Demand deposit rose 15 per cent to Rs 7,26,594 crore from Rs 6,31,790 crore in the year ago period.