From The Economic Times · Atmadip Ray · · 50s
Bank deposits shrink as lenders see Rs 2.59 lakh crore withdrawal
Bank deposits fell by 2.49 lakh crore as credit growth slowed to 18.1% in fortnight ending Sept 15.
In brief
Bank deposits fell by 2.49 lakh crore as credit growth slowed to 18.1% in fortnight ending Sept 15. Bank deposits contracted by 2.49 lakh crore and credit growth slowed to 18.1% in the fortnight to September 15. Originally reported by The Economic Times.
Bank deposits shrink
Bank deposits fell by 2.49 lakh crore to 276.2 lakh crore in the fortnight to September 15.
Credit growth slows
Credit growth moderated to 18.1% from 19.1% in the fortnight to September 15.
Outstanding credit contracts
Outstanding credit contracted by 57,894 crore to 223.3 lakh crore in the fortnight.
Treasury head explains
A treasury head said banks may not renew high-cost bulk deposits as they mature.
Foreign deposits help
Banks have overseas deposits from the dollar-mobilisation programme to cushion withdrawals.
At a glance
Bank deposits contracted by 2.49 lakh crore and credit growth slowed to 18.1% in the fortnight to September 15.
