Private banks lead deposit mobilisation and credit growth, says RBI

Private banks also saw higher credit growth than their public and foreign counterparts

Private banks continued to lead both deposit growth and bank credit, while their public sector counterparts showed moderate growth, according to data by the Reserve Bank of India (RBI). The aggregate value of deposits for private banks in June 2018 grew 17.3 per cent year-on-year (yoy), while that of public sector banks (PSBs) grew 3.5 per cent and foreign banks 1.4 per cent.

This was lower against a growth of 19.7 per cent yoy for private banks, 11.1 per cent for PSBs, and deceleration of 1.4 per cent for foreign banks in the June quarter last year.

Private banks also saw higher