Mumbai: Bank credit grew at a slower rate of 9.8 percent and deposit growth rate slowed down to 10.7 percent in the March quarter, says RBI data.
Both credit and deposit had recorded a growth of 13.8 percent 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 today.
The growth in gross bank credit increased to 14.7 percent for 'rural' in March 2015 from 14 percent a year ago.
Public sector banks accounted for the largest share of 72.9 percent in aggregate deposits and 71.6 percent in gross bank credit, followed by private sector banks at 19.7 percent and 20.9 percent, respectively, as on March 31, 2015.
Metropolitan branches, constituting around 52.9 percent of aggregate deposits and 64.4 percent of gross bank credit, recorded the highest credit-deposit (C-D) ratio at 94.2 percent.
For other population groups, C-D ratio was lower than the national average ratio of 77.4 percent.
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 percent of total business.
Maharashtra alone contributed 26.1 percent of total business.
These states together accounted for 66.4 percent of aggregate deposits and 71.9 percent of gross bank credit, the data showed.
The C-D ratio was the highest in March quarter for Tamil Nadu at 119.5 percent, followed by Chandigarh at 106.2 percent, Andhra Pradesh at 105.7 percent, Delhi NCR at 103.6 percent and Telangana at 102.4 percent.
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.
