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CareEdge Research Report
Bank credit witnessed a strong growth of 13.2% YoY, expanding by a significant 728 basis points, for the fortnight ended June 17, 2022, up from 5.9% in the year-ago period (reported June 18, 2021). In absolute terms, credit outstanding stood at Rs 121.5 lakh crore as of June 17, 2022, growing by Rs 14.1 lakh crore over the last 12 months.
The growth was driven by a low base effect, small-ticket loans, an increase in working capital loans due to higher inflation and shift to bank borrowings on account of rising bond yields. Sequentially, bank credit also rose marginally by 0.1% from the immediate fortnight (June 03, 22).
Deposits stood at Rs 165.7 lakh crore for the fortnight ended June 17, 2022, registering a growth of 8.3% YoY. Meanwhile, in absolute terms, bank deposits have increased by Rs 12.7 lakh crore over the last twelve months. However, it dropped by 1.0% from the immediately preceding fortnight (reported June 03, 2022).
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