We use Google Cloud Translation Services. Google requires we provide the following disclaimer relating to use of this service:
This service may contain translations powered by Google. Google disclaims all warranties related to the translations, expressed or implied, including any warranties of accuracy, reliability, and any implied warranties of merchantability, fitness for a particular purpose, and noninfringement.
In eight months of the current financial year (July to February), two trillion 82 billion rupees of deposits have been added in commercial banks. This is an increase of 4.90 percent compared to last June. At the end of last June, the total deposits of banks were 57 trillion 55 billion rupees, but by February last, it had increased to 60 trillion 37 billion rupees.
In the last eight months, 20 commercial banks have extended a total of 2 trillion 80 billion additional loans. This is an increase of 6.12 percent compared to the end of last June. The total credit of commercial banks, which was 45 trillion 71 billion rupees last June, has increased to 48 trillion 51 rupees by February.
The mentioned data of loans and deposits has shown that the growth rate of loans is higher than that of deposits during the eight months of the current financial year. There are only four months left for this financial year. This year, the government has set a target of expanding credit by 12.5 percent. Experts say that based on the progress of up to eight months, it will be difficult to achieve the annual target this financial year.
Similarly, the average loan-to-deposit ratio of commercial banks is 79.29 percent until last February. This means that the data shows that the banks still have around 6 trillion rupees of investable (loanable) capital.
