Mumbai: Scheduled commercial banks' credit growth slowed to 8.6 per cent in quarter ended June against the 12.9 per cent in the same period last year, the RBI data showed. Bank deposits grew by 10.6 per cent in the three months to June from 11.9 per cent year ago.
"The deceleration was broad-based and observed across all population groups," RBI said in its quarterly statistics on deposits and credit of scheduled commercial banks. Public sector banks accounted for the largest share of 72.5 per cent in aggregate deposits and 70.4 per cent in gross bank credit followed by private sector banks at 19.8 per cent and 20.6 per cent, respectively, as of June 26, 2015.
SBI and associates, RRBs and private sector banks could maintain accelerated growth in aggregate deposits in June 2015 over their levels a year ago. In the case of credit, private sector banks and foreign banks improved their growth rate in period over year-ago. However, credit growth for the private sector banks was lower than in preceding quarter.
According to the size of total business (aggregate deposits plus gross bank credit) of the banks, seven states- Maharashtra, NCT of Delhi, Tamil Nadu, Karnataka, Uttar Pradesh, West Bengal and Gujarat - accounted for 68.3 per cent of the total business. Maharashtra contributed 25.5 per cent of total business.
"These states accounted for 66 per cent of aggregate deposits and 71.4 per cent of gross bank credit," RBI said. The all India credit-deposit (C-D) ratio was 75.8 per cent as of June 26, 2015. This ratio was the highest for Tamil Nadu (117.3 per cent) followed by Chandigarh (110.8 per cent), Andhra Pradesh (105.1 per cent), Telangana (103.1 per cent), NCT of Delhi (95.0 per cent), Maharashtra (93.3 percent) and Rajasthan (86.7 percent). For other states, the ratio was below the all India level, the apex bank said.
