Mumbai: Data released by the Reserve Bank of India (RBI) revealed that the incremental bank deposit growth outpaced credit growth in the fortnight ended December 2, 2022. Several banks in the country had increased its interest rates on deposits recently. This decision has supported the incremental bank deposit growth.
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As per the data, bank deposits and credit were up by Rs 2,27,725.63 crore and Rs 1,61,622.19 crore, respectively, in the fortnight ended December 2, 2022. However, on year-on-year basis, deposit growth (9.56%) lagged credit growth (17.22%) as on December 2.
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