Credit growth of banks stood at 17.2 percent in September quarter: RBI

-


Ahmedabad: Bank credit increased by 17.2 percent year-on-year in the July-September quarter. Bank credit growth was seven percent in the same quarter a year ago. An increase in bank credit indicates an increase in the economic activity of an economy.

Releasing quarterly data on deposits and loans of public sector banks for September-2022, the Reserve Bank of India said credit growth remained balanced. All population groups and bank groups recorded more than 10 percent growth in credit during September, 2022.

This data is collected from all Scheduled Commercial Banks. It includes regional rural banks, small finance banks and payments banks. According to RBI data, loans increased by 17.2 percent in the September quarter. Loan growth was 14.2 percent in the previous April-June quarter. At the same time, the figure was seven percent in the same quarter a year ago.

According to the data, total deposit growth has been in the range of 9.5 and 10.2 percent annually since June 2021. However, in September 2022, it was 9.8 percent. Compared to rural, semi-urban and urban areas, bank branches in metropolitan areas have been recording higher year-on-year growth since December 2020.

The RBI said private sector bank groups are outpacing public sector banks, foreign banks and regional rural banks in adding deposits. According to the data, fixed deposit growth stood at 10.2 percent year-on-year in September, 2022, as against 6.4 percent in the same period a year ago. However, the growth of current and savings deposits declined to 8.8 percent and 9.4 percent from 17.5 percent and 14.5 percent respectively a year ago.

The share of savings deposits in total deposits declined modestly to 34.7 percent in the latest quarter, RBI said. It increased from 32.4 percent in June 2019 to a high of 35.2 in June 2022.


Comments

Post a Comment

Popular posts from this blog

Due to the ban, employment and economic activity declined by two to three percent

-
Image
New delhi date. October 7, 2019, Monday A new study has found that employment and economic activity have declined by two to three percent due to the ban. A similar situation has been observed in bank lending. The study found the decline to occur within two months of the notation announced on November 7. This is the first research on demineralization in which data on the effects of districts across India were collected. In addition to the districts, the effect of national level was also studied. Previous studies only examined the national level effect of demonitization. Thus, a full estimate of the overall effect is not known. As a result of the shortage of cash arising out of the blockade, the country's economic activity fell by approximately 8 percent in November-December 2 In the October-December period, bank credit has seen an impact of around two per cent. Cash pulls have impacted demand for a short period. The study found that there was a strong link between money and pro
Read more

Information about soymilk and casein products

-
Image
- Industrial guidance - Dhiru Parekh Soymilk: Soybeans are converted to high-quality protein. So that high quality drinks can be made which can be easily digested. There is no difference between soymilk and cow's milk. So the conservative industries of milk processing are now using this milk to make yogurt and ice cream. Consumers also cannot tell the difference between ice cream made from cow's milk and from soy milk. Also, the production capacity of soy milk can be increased than that of cow's milk. And the price can be cheaper. Soybeans mainly contain two types of enzymes that are inactivated in the soymilk process. Leukoxidase that catalyzes the oxidation of fatty acids. And enzymes like pepsin, trypepsin are included in it. Which helps in digesting protein. Soyamilk powder manufacturing process: This is an electric pre-heater system. which basically allows fluid to flow easily in a stationless tube under low-voltages. which absorbs the energy flowing through the Ja
Read more

The brokerage firm objected to SEBI's new proposal regarding Algo Trading

-
Image
MUMBAI: Brokerage firms and fintech companies have objected to market regulator SEBI's discussion paper considering all stock trading orders issued through Application Programming Interface (API) as separate trading, saying it could adversely affect the growth of such trading from India. Algo trading is considered to be an automatic buying-selling system based on algorithms. SEBI has recently said in a discussion paper that it would create a framework for regulating Algo trading by retail investors. A senior official of a brokerage firm said that monitoring of Algo trading is a need of the hour, but such an attempt could hamper the growth of Sebi Algo trading. He added that if the suggestions made in the SEBI discussion paper were implemented, it would be difficult for brokers to make the API available. About 70% of the daily trading volume in Indian stock markets is transacted through advanced forms of algo trading. Algo Trading came to India in the year 2006, but then only se
Read more