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What was the percentage of bank credit growth in the quarter ended June 2022 in India?

Correct Answer : Option (D) - 14.2%

According to RBI statistics released on Thursday(25th Aug 2022), bank credit growth increased from 6% in the same quarter last year to 14.2% in the quarter that ended in June 2022.
Bank credit has increased by 10.8% in the three months that ended in March 2022. On Thursday(25th Aug 2022), the Reserve Bank of India (RBI) published the "Quarterly Statistics on Deposits and Credit of SCBs for June 2022." This information is gathered from all scheduled commercial banks (SCBs), which also include small financing banks (SFBs), regional rural banks (RRBs), and payment banks (PBs).
All population groups (rural, semi-urban, urban, and metropolitan), all bank groups (public/private sector banks, foreign banks, RRBs, and SFBs), and all geographic areas of the nation (central, eastern, north-eastern, northern, southern, and western) recorded double-digit annual credit growth in June 2022, according to the data.
Over the past five quarters, annualized deposit growth has been between 9.5% and 10.2%. Metropolitan branches continue to account for more than half of all bank deposits, and during the past year, their proportion has slightly grown.
Over the past three years, the proportion of deposits from current and savings accounts (CASA) in total deposits has increased (42% in June 2020, 43.8% in June 2021, and 44.5 % in June 2022).
The statistics revealed an increase in the credit-deposit (C-D) ratio as credit growth has recently outpaced deposit growth. The C-D ratio for all of India was 73.5% in June 2022 (compared to 70.5% a year earlier), while it was 86.2% for bank branches in major cities (84.3% a year ago)..

Source : India info line

Published On : August 28, 2022
Category : Banking