Bank credit picked up pace in Q2-FY'12, says RBI report

Total bank credit in the country grew at an increased pace of 24.3 per cent during the second quarter of the financial year 2011-12 (July-September 2011-12) against a 19.7 per cent growth rate recorded in the corresponding quarter of the previous financial year (July-September 2010-11). 

The growth in bank credit at top hundred banking centres in the country comes amidst a slowing in the pace of economic activity across various sectors.

The top 200 centres in terms of gross bank credit accounted for 31.8 per cent of reporting offices and 81.9 per cent of gross bank credit, the Reserve Bank of India (RBI) said in a release today.

Aggregate deposits of top hundred banking centres in the country increased by 23.5 per cent year-on-year during the second quarter of the financial year 2011-12, against a growth of 13.7 per cent recorded during the second quarter of the previous fiscal.

The top 200 centres in terms of aggregate deposits covered 32.4 per cent of reporting offices and 74.5 per cent of aggregate deposits.

Group wise, nationalised banks accounted for 52.2 per cent of the aggregate deposits.