New Delhi: Bank credit growth accelerated to 14.2 percent in the quarter ended June 2022 from 6 percent in the same period of the previous year, Reserve Bank of India (RBI) data showed on Thursday.

In the quarter ended March 2022, bank credit had expanded by 10.8percent.

The Reserve Bank of India (RBI) on Thursday released the 'Quarterly Statistics on Deposits and Credit of SCBs for June 2022'. This data is collected from all scheduled commercial banks (SCBs), which include regional rural banks (RRBs), small finance banks (SFBs) and payments banks (PBs).

"Credit growth has been broad-based: all the population groups (i.e., rural, semi-urban, urban and metropolitan), all the bank groups (i.e., public/private sector banks, foreign banks, RRBs and SFBs) and all the regions of the country (i.e., central, eastern, north-eastern, northern, southern and western) recorded double-digit annual credit growth in June 2022," as per the data.

Aggregate deposit growth (year-on-year) has remained in the range 9.5 – 10.2 percent during the last five quarters.

Metropolitan branches continue to account for over half of the bank deposits and their share increased marginally over the last one year.

The share of current account and savings account (CASA) deposits in total deposits has been increasing over the last three years (42 percent in June 2020, 43.8 percent in June 2021 and 44.5 percent in June 2022).

As credit growth is outpacing deposit growth in the recent period, credit-deposit (C-D) ratio has been on the rise, the data showed.

In June 2022, C-D ratio stood at 73.5percent at all-India level (70.5 percent a year ago) and 86.2 percent for metropolitan branches of banks (84.3 percent a year ago).

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