BANK CREDIT AND DEPOSIT GROWTH TUMBLES DOWN IN THIRD QUARTER OF FY25
NEWS Desk Global
Bank credit and deposit growth slowed in the October-December quarter of 2024, according to data released by the Reserve Bank of India. In December 2024, the annual bank credit growth fell to 11.8 per cent, against the 12.6 per cent recorded in September 2024. Similarly, aggregate deposit growth eased to 11 per cent from 11.7 per cent in the previous quarter.
Personal loans, which make up 31.5 per cent of total credit, saw a moderation in annual growth to 13.7 per cent, compared to 15.2 per cent in the previous quarter. Credit to the agriculture and industry sectors also slowed, while lending for trade, finance, and professional services picked up pace.
Comments