RBI: Banks' credit rose 16% to ₹219L/cr deposits ₹267.8L/cr
Business
India's banks saw a big jump in lending this year: credit grew by 16% to ₹219 lakh crore, while deposits rose 13.4% to ₹267.8 lakh crore, says the RBI.
Even investments nudged up a bit, but the real action was in the last weeks of March, when banks collected ₹12 lakh crore in fresh deposits and handed out ₹6.1 lakh crore in new loans.
Banks' deposits up ₹31.7L/cr loans ₹30.1L/cr
A lot of this growth happens at year-end, thanks to companies moving cash around and more government spending (classic fiscal season stuff).
Over the whole year, deposits went up by ₹31.7 lakh crore and loans by ₹30.1 lakh crore compared to last year, showing how banking activity often mirrors what's happening across the economy as a whole.