MUMBAI: Bank deposits grew 14.09 per cent year-on-year to Rs 79,28,851 crore as of May 30, faster than the 13.01 per cent growth in credit in the same period, RBI data showed.

Deposits of commercial banks stood at Rs 69,49,527 crore during the same period last year, according to the RBI’s fortnightly data released today.
Bank credit grew at 13.01 per cent year-on-year to Rs 60,67,365 crore in the reporting fortnight, as against Rs 53,68,778 crore last year.

During the period, the time deposit grew 13.9 per cent at Rs 71,71,238 crore as against Rs 62,94,466 crore in the previous year.

Demand deposit rose 15.65 per cent to Rs 7,57,624 crore from Rs 6,55,061 crore in the year ago period.

On a fortnightly basis, deposits were tad up by 0.93 per cent to Rs 79,28,851 crore as against Rs 78,55,622 crore in the week ended May 30.

Credit growth also rose 0.4 per cent to Rs 60,67,365 crore from Rs 60,43,244 crore.