Credit growth slips to 13.8 per cent; deposits up 15 per cent

Bank deposits grew at 14.98 per cent year-on-year to Rs 79,31,104 crore as on April 4, better than credit growth, data from the Reserve Bank of India (RBI) showed.

Deposits of commercial banks stood at Rs 68,97,225 crore during the same period last year, the RBI fortnightly data said.

Bank credit grew at 13.79 per cent year-on-year to Rs 60,86,879 crore as on April 4, as against Rs 53,49,040 crore in the same period last year.

The RBI's estimate of the credit growth for FY14 was 15 per cent, while for deposits it was 14 per cent.

During the period, the time deposit grew 14.96 per cent at Rs 71,63,409 crore as against Rs 62,30,900 crore in the same period last year.

Demand deposit rose 15.21 per cent to Rs 7,67,695 crore from Rs 6,66,325 crore in the year ago period.