Bank credit growth rate falls to 13.9 per cent in June 2009
22 Oct 2009
Growth rate of gross bank credit of top hundred banks in the country stood at 13.9 per cent in June 2009, much lower than the 28.4 per cent growth recorded in June 2008, even as aggregate deposits with these hundred banks increased 20.7 per cent in June 2009 compared to a growth of 22.1 per cent recorded in the year-ago period, the Reserve Bank of India said in a release.
The top 100 centres, arranged according to the size of bank credit accounted for 78.0 per cent of total bank credit and the top hundred centres arranged according to the size of deposits accounted for 69.2 per cent of the total bank deposits.
In June 2008, the corresponding share of top hundred centres in gross bank credit and aggregate deposits was 78.2 per cent and 69.5 per cent, respectively.
The top 200 centres in terms of gross bank credit accounted for 81.5 per cent of gross bank credit and 30.9 per cent of reporting offices. The top 200 centres in terms of aggregate deposits covered 31.4 per cent of the reporting offices and 74.2 per cent of aggregate deposits.
Nationalised banks as a group accounted for 50.4 per cent of aggregate bank credit in the country. The State Bank of India and its associates accounted for 23.5 per cent and other scheduled commercial banks at 18.0 per cent of total bank credit. Foreign banks and regional rural banks had relatively lower share in the total bank credit at 5.7 per cent and 2.4 per cent, respectively.
As regards deposits, nationalised banks accounted for 49.7 per cent of the aggregate deposits, while State Bank of India and its associates accounted for 24.2 per cent. The share of other scheduled commercial banks, foreign banks and regional rural banks in aggregate deposits were 17.5 per cent, 5.6 per cent and 2.9 per cent, respectively.
