Bank credit growth decelerates to 5.8% in November
Bank credit growth decelerates to 5.8% in November
BusinessToday.In
- Dec 30, 2020,
- Updated Dec 30, 2020 9:30 AM IST
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Bank credit growth decelerated to 5.8% and 5.7% during the last two fortnights reflecting subdued demand and risk aversion in the banking system.SHIVANI SHARMA, PRAGATI SRIVASTAVA
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Deposits increased by 11.3% in the fortnight ended December 4. Liquidity surplus in banking system stood at Rs 5.8 lakh crore during the same period.
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Demand deposits increased 13.50 % in November as compared to previous year.
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Time deposits account for 89% of aggregate deposits. It grew at a slower pace compared to demand deposits which account for the balance 11%.
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Credit to Deposit (CD) ratio has largely stood at a similar level during the last two fortnights ended November 20, 2020 and December 4, 2020 due to slower credit growth.