The banking sector continued to record an increase in loan growth, with the growth rate of non-food credit being the best since January 17, 2020. On the other hand, however, the growth rate of M3 or the Money supply fell to 9.17% year-on-year, perhaps, the weakest growth rate since April 10, 2021.
Here are the details of the growth rate for reference:
|Deposits are up 1.09%||(-1.68% last fortnight)|
|Demand deposits are up 2.6%||(-7.72% the last fortnight)|
|Term deposits are up 0.9%||(-0.83% last fortnight)|
|Food credit is up 4.88%||(+ 7.22% last fortnight)|
|Non-food credit is up 0.93%||(+ -0.06% last fortnight)|
|Overall credit is up 0.96%||(-0.01% last fortnight)|
|Deposits are up 5.55%|
|Demand deposits are up 0.37%|
|Term deposits are up 6.28%|
|Food credit is up 41.11%|
|Non-food credit is up 2.68%|
|The overall credit is + 2.9%|
|Deposits at Rs 1.59.52.043 crore, up 9.32% yoy (last fortnight was + 9.8% yoy)|
|Advances were at Rs 1,12,69,069 cr, up 7.28% over one year (the last fortnight was at + 6.97% over one year)|
|Food credit is down 9.88% year on year and non-food credit is up 7.44% year on year|
|Growth in non-food credit, at + 7.44% YOY, best growth since 17e January 20|
The loan-to-deposit ratio, meanwhile, remained low at 70.64% against 70.74% a fortnight ago.
On the other hand, the year-to-date credit growth (YTD) seen in the first week of December 21 is the best YTD growth seen in the past 3 years.
1st week of December, year-to-date
(Edited by : Anshul)
First publication: STI