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RBI released Quarterly Statistics on Deposits & Credit of SCBs; Bank credit growth slows to 5.8% in September 2020

Reserve Bank of India
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Reserve Bank of India

Highlights

Bank credit growth decelerated to 5.8 per cent in September 2020 from 8.9 per cent reported a year ago period according to the Reserve Bank of India (RBI) data.

Bank credit growth decelerated to 5.8 per cent in September 2020 from 8.9 per cent reported a year ago period according to the Reserve Bank of India (RBI) data.

RBI on Wednesday released the quarterly statistics on deposits and credit of scheduled commercial banks (SCBs), September 2020.

Key highlights

1) Bank credit growth (Y-o-Y) decelerated to 5.8 per cent in September 2020 from 8.9 per cent a year ago: the deceleration was recorded across the population groups (i.e., rural, semi-urban, urban and metropolitan).

2) Annual growth (Y-o-Y) in credit by private sector banks moderated significantly to 6.9 per cent in September 2020 from 14.4 per cent a year ago, whereas it increased marginally for public sector banks to 5.7 per cent from 5.2 per cent over the same period.

3) Aggregate deposits of banks recorded an annual increase of 11.0 per cent in September 2020 as compared with 10.1 per cent growth a year ago: the increase was witnessed across all population groups.

4) The share of current account and saving account (CASA) in total deposits has been gradually increasing: it stood at 42.3 per cent in September 2020 from 41.2 per cent a year ago and 40.8 per cent three years ago.

5) As deposit growth exceeded credit growth, the all-India credit-deposit (C-D) ratio declined to 72.0 per cent in September 2020 from 73.1 per cent in the previous quarter.

6) C-D ratio for metropolitan branches, which have a dominant share in bank deposits and credit, stood at 88.4 per cent in September 2020 (90.9 per cent a quarter ago). C-D ratio for Tamil Nadu, Andhra Pradesh and Chandigarh remained above 100 per cent.

Data on total credit and deposits disaggregated by type are classified by states/union territories (UTs), districts, centres, population groups and bank groups. These data are collected from all SCBs (including Regional Rural Banks and Small Finance Banks) under the Basic Statistical Return (BSR) – 7 systems.

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