Deposits of commercial banks stood at Rs 6,657,109 crore during the same period last year, according to RBI fortnightly data released today.
Meanwhile, credit grew at 14.65 per cent year-on-year to Rs 5,937,249 crore as on March 7, as against Rs 5,178,577 crore in the same period last year.
The RBI's estimate of the credit growth for the current fiscal is 15 per cent, while for deposits it is 14 per cent.
During the period, the time deposit grew 15.70 per cent at Rs 6,989,150 crore as against Rs 6,040,646 crore in the same period last year.
During the fortnight ending February 21, deposits grew at healthy 16 per cent year-on-year to Rs 7,605,171 crore as against Rs 6,565,137 crore during the same period last year, according to the data.
In previous fortnight, bank credit grew at 14 per cent year-on-year to Rs 5,861,736 crore as on February 21, as against Rs 5,127,264 crore in the same period last year.