Banking Credit, Deposit Update - Credit Growth Continues Upward Trajectory In December: CareEdge
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CareEdge Research Report
Bank credit growth expanded by 154 basis points YoY and reached 7.3% YoY for the fortnight ended December 03, 2021, up from 5.7% in the year ago period (fortnight ending December 04, 2020) due to focus on retail credit, uptick in business activities coupled with a low base.
It also improved by 30 bps from 7.0% (post the festive season) in the previous fortnight ended November 19, 2021.
In absolute terms, credit offtake expanded to Rs 112.7 lakh crore, increasing by Rs 7.6 lakh crore over the last twelve months, it also expanded by 1.2 lakh crore as compared with the previous fortnight (November 19, 2021).
Deposits stood at Rs 159.5 lakh crore for the fortnight ended December 03, 2021, reporting a growth of 9.3% YoY, however the growth rate contracted by 220 bps (YoY) and reporting a decline of 50 bps when compared with the previous fortnight (November 19, 2021).
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