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RBI data shows 14.2% surge in bank credit rate

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).

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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).


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