BANKS' DEPOSITS OUTPACED the credit growth for the fortnight ended November 29, supported by a robust growth in term deposits, according to Reserve Bank of India data. Outstanding deposits grew 10.7% while outstanding credit increased by 10.6% during the fortnight, as per the RBI's weekly statistical supplement, released on Friday.
Outstanding deposits of banks increased to ₹220.1 lakh crore as of November 29, from ₹198.8 lakh crore in the same fortnight previous year. Bank credit reached ₹175 lakh crore from ₹158.2 lakh crore. Term deposits grew by 10.8% to reach ₹194.4 lakh crore during the fortnight under review.
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