The Reserve Bank of India (RBI) has said that deposit expansion of scheduled commercial banks (SCBs) stood at 12.9 percent, while credit growth was at 12.1 percent for the quarter ended September. As per its Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks: September 2016- the acceleration in both, deposits as well as credit, was broad based and was observed across all population groups as also bank groups with exception of growth in bank credit by foreign banks.
RBI said that public lenders continued to maintain their leading position, accounting for 70 percent of total deposits and 67 percent of credit in the quarter. Term deposits constituted the highest share that is 63.6 percent in aggregate deposits followed by savings which stood at 28.1 percent and current deposits at 8.3 percent. At the end of September quarter, the credit deposit (C-D) ratio of all SCBs at all-India level stood at 74.5 percent, the ratio of private banks came higher at 85.6 percent, while for the state-owned banks the figure stood at 71.2 percent.
The Seven states which accounted for 68 percent of the total business that is deposits plus credit of the banks in the country included Maharashtra, NCT of Delhi, Tamil Nadu, Karnataka, Uttar Pradesh, West Bengal and Gujarat. As per the data, at all India level this sates together accounted for 66 percent of deposits and 72 percent of credit. RBI added that among the 36 states/Union Territories, 6 had credit deposit ratio higher than the all-India level. The ratio is the highest for Tamil Nadu that is 107.5 percent, followed by Chandigarh (103 percent), Andhra Pradesh (102.3 percent), Maharashtra (100.2 percent), Telangana (99.3 percent) and NCT of Delhi (87.7 percent).