Mumbai: Bank credit grew at a slower rate of 9.8 per cent and deposit growth rate slowed down to 10.7 per cent in the March quarter, says RBI data.
Both credit and deposit had recorded a growth of 13.8 per cent during the same quarter of last year.
"The deceleration was broad-based and observed across all population groups except 'rural'," RBI said in its report on quarterly statistics on deposits and credit of banks for March released on Monday.The growth in gross bank credit increased to 14.7 per cent for 'rural' in March 2015 from 14 per cent a year ago.
Public sector banks accounted for the largest share of 72.9 per cent in aggregate deposits and 71.6 per cent in gross bank credit, followed by private sector banks at 19.7 per cent and 20.9 per cent, respectively, as on March 31, 2015.
Metropolitan branches, constituting around 52.9 per cent of aggregate deposits and 64.4 per cent of gross bank credit, recorded the highest credit-deposit (C-D) ratio at 94.2 per cent.
For other population groups, C-D ratio was lower than the national average ratio of 77.4 per cent.
Arranged according to size of total business - aggregate deposits plus gross bank credit -- Maharashtra, NCT of Delhi, Tamil Nadu, Karnataka, Uttar Pradesh, Bengal, and Gujarat accounted for 68.8 per cent of total business.
Maharashtra alone contributed 26.1 per cent of total business.
These states together accounted for 66.4 per cent of aggregate deposits and 71.9 per cent of gross bank credit, the data showed.
The C-D ratio was the highest in March quarter for Tamil Nadu at 119.5 per cent, followed by Chandigarh at 106.2 per cent, Andhra Pradesh at 105.7 per cent, Delhi NCR at 103.6 per cent and Telangana at 102.4 per cent.
SBI and its associates, private sector banks, and RRBs could maintain accelerated growth in aggregate deposits in the reporting period as compared to their levels a year ago.
As regards credit, only private sector banks improved their growth rate in March, 2015 as compared to its level a year ago, RBI said.
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