Banking Update – Credit Disbursements Accelerating, Deposit Growth Also Rising: CareEdge

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Bank credit increased by 8.5% year-on-year and increased by 201 basis points year-on-year for the fortnight ending March 11, 2022, compared to 6.5% a year ago (the fortnight ending on March 12, 2021), mainly driven by retail lending and micro, small and medium enterprise lending thanks to the support provided under the emergency line of credit guarantee program.

Sequentially, credit growth improved 0.6%. In absolute terms, outstanding credit stood at Rs 117.2 lakh crore as of March 11, 2022, increasing by Rs 9.2 lakh crore over the last twelve months.

Deposits stood at Rs 162.8 lakh crore for the fortnight ended March 11, 2022, recording a steady growth of 8.8% year-on-year. Meanwhile, in absolute terms, bank deposits increased by Rs 13.2 lakh crore over the past twelve months and by Rs 0.60 lakh crore from the previous fortnight (as of Feb 25, 2022).

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