The latest data of Reserve Bank of India (RBI) reveals that the scheduled commercial banks (SCBs) credit stood at Rs107.05 lakh cr with a growth rate of 3.2% in the first nine months of FY21.
The bank credit growth rate was 2.7% in the same period a year ago.
Furthermore, bank deposits stood at Rs147.27cr between April - December 2020 (9MFY21) with a growth rate of 8.5% against growth of 5.1% in the similar period last year.
RBI's data revealed that in the fortnight ended January 01, 2021, SCB's credit growth was at 6.7% and bank deposits at 11.5% on a year-on-year basis.
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