Indian banking industry's deposits increased by 14.2 percent to Rs 98.63 lakh crore in the January-March quarter, 2013. The nationalised banks accounted for the highest share of 52.4 per cent of the aggregate deposits in the total deposits during the period followed by the State Bank of India and its associates having 22 per cent share and new private sector banks represent 13.6 per cent share in deposits. Meanwhile, the share of old private sector banks, foreign banks, and regional rural banks in aggregate deposits was 5.1 percent, 4 percent and 2.9 percent, respectively. The Banking Industry had reported 13.8 percent deposits growth in the same period of previous year.
Meanwhile, the growth in credit slowed down to 15.1 per cent at Rs 55.42 lakh crore in the reported quarter from 17.3 per cent a year ago. In gross bank credit, nationalised banks accounted for the highest share at 51 percent followed by SBI and its associates having 22.7 percent share and new private sector banks consist 14 percent share. Meanwhile, old private sector banks, foreign banks and regional rural banks had relatively lower shares in the gross bank credit at 5 percent, 4.9 percent and 2.5 percent in January-March quarter respectively. Indian banking industry credit-to-deposit ratio stood at 78.1 percent in March 2013. The contraction in industry credit growth was mainly due to the prevailing economic slowdown, hurting domestic demand. Indian economic growth slowed down to decade low of 5 percent in the previous fiscal. Meanwhile, banks have also stayed away from aggressive lending due to concerns over asset quality and a rise in non-performing assets.
Meanwhile, the growth in credit slowed down to 15.1 per cent at Rs 55.42 lakh crore in the reported quarter from 17.3 per cent a year ago. In gross bank credit, nationalised banks accounted for the highest share at 51 percent followed by SBI and its associates having 22.7 percent share and new private sector banks consist 14 percent share. Meanwhile, old private sector banks, foreign banks and regional rural banks had relatively lower shares in the gross bank credit at 5 percent, 4.9 percent and 2.5 percent in January-March quarter respectively. Indian banking industry credit-to-deposit ratio stood at 78.1 percent in March 2013. The contraction in industry credit growth was mainly due to the prevailing economic slowdown, hurting domestic demand. Indian economic growth slowed down to decade low of 5 percent in the previous fiscal. Meanwhile, banks have also stayed away from aggressive lending due to concerns over asset quality and a rise in non-performing assets.
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