Mumbai: The ‘Quarterly Statistics on Deposits and Credit of SCBs for June 2022’ released by the Reserve Bank of India (RBI) has revealed that the bank credit surge by 14.2% in the quarter ended June 2022. The bank credit rate was at 6% in the same period of the previous year. In the quarter ended March 2022, bank credit had expanded by 10.8%.
RBI collects this data from all scheduled commercial banks (SCBs), which include regional rural banks (RRBs), small finance banks (SFBs) and payments banks (PBs).
As per the data, the aggregate deposit growth (year-on-year) has remained in the range 9.5 – 10.2% during the last five quarters. The share of current account and savings account (CASA) deposits in total deposits has been increasing over the last three years (42% in June 2020, 43.8% in June 2021 and 44.5% in June 2022).