UCBs losing out on deposits

Deposits of urban co-operative banks have grown rather slowly at a mere 3.2 per cent on a year-on-year basis. The deposits (from other than banks) of urban co-operative banks increased to Rs 70,311 crore as on February 18, 2005, up from Rs 68,065 crore on February 20, 2004.

The growth of deposits for all scheduled commercial banks was at a much higher rate of 14 per cent to Rs 16,83,013 crore as on February 18, 2005, up from Rs 14,70,836 crore on February 20, 2004.

The Reserve Bank of India today released figures on the assets and liabilities positions of all scheduled commercial banks and all scheduled banks (which includes urban co-operative banks).

This data is released on a fortnightly basis, said the press release from the central bank. The deposit figures of urban co-operative banks were obtained by subtracting the deposit figures of scheduled commercial banks from that of all scheduled banks.

Bank credit (excluding inter-bank advance) grew at a snail's pace of 5.4 per cent to Rs 57,773 crore as on February 18, 2005 from Rs 54,804 crore a year back. Bank credit for scheduled commercial banks grew at 30 per cent on a year-on-year basis to Rs 10,56,209 crore from Rs 8,12,462 crore.

Investments (at book value) for urban co-operative banks grew faster at 11 per cent to Rs 31,494 crore from Rs 28,328 crore. Investments for scheduled commercial banks increased by 7 per cent to Rs 7,23,027 crore from Rs 6,75,026 crore.

The food credit outstanding for scheduled commerical banks grew to Rs 41,482 crore from Rs 35,267 crore.

The data sheet covers the business data from scheduled commercial banks including regional rural banks and all scheduled banks, which include urban co-operative banks.

The statement includes food credit outstanding of scheduled commercial and state co-operative banks. The statement also comprises comparative position for Friday of the preceding fortnight and corresponding Friday of the previous year.