<p>According to the apex bank, credit offtake during the period stood at Rs 39.37 lakh crore as against Rs 32.20 lakh crore a year ago.<br /><br />During the period, deposits went up to over Rs 52.85 lakh crore from Rs 45.50 lakh crore as on March 12, 2010, shows the latest data from the Reserve Bank.<br /><br />This is a rise of over 16.1 per cent on an annual basis.RBI, in its annual monetary policy at the beginning of the fiscal, had estimated credit offtake to grow by 20 per cent this financial year.<br /><br />However, in December 2010 the apex bank expressed concern at the widening ratio between the credit and deposit rates of banks. This has the potential to affect the supply of liquidity in the system due to higher lending by the banks vis-a-vis lower deposits.<br />In its recent third quarterly monetary policy review, RBI had observed that the deposit growth moderated during 2010.Several banks raised their deposit rates after the Second Quarter Review of 2010-11, which contributed towards a larger deposit mobilisation in December.<br /><br />Consequently, deposit growth increased to 16.5 per cent by end-December 2010, close to the indicative projection of 17 per cent for 2010-11.<br /><br />However, annual nonfood credit growth has been above the Reserve Bank's indicative projection of 20 per cent since early October 2010, rising to 24 per cent by end-December 2010, it said.<br /><br />The wide gap between credit growth and deposit growth resulted in a sharp increase in the incremental non-food credit-deposit ratio to 102 per cent by end-December 2010, up from 58 per cent in the corresponding period of previous year, it added.<br /><br />During the past few months, credit offtake has grown at the rate of 20 per cent on an average.<br /><br />Credit offtake has been higher this fiscal on account of large borrowings by telecom firms to pay for 3G spectrum licences.<br /><br />The government realised over Rs 1 lakh crore from the sale of spectrum for high speed mobile and broadband wireless services, much higher than the Budget estimate of Rs 35,000 crore.<br /><br />Credit rating agencies like Crisil had earlier said the country was likely to see credit offtake growth of around 20-22 per cent this fiscal.<br /></p>
<p>According to the apex bank, credit offtake during the period stood at Rs 39.37 lakh crore as against Rs 32.20 lakh crore a year ago.<br /><br />During the period, deposits went up to over Rs 52.85 lakh crore from Rs 45.50 lakh crore as on March 12, 2010, shows the latest data from the Reserve Bank.<br /><br />This is a rise of over 16.1 per cent on an annual basis.RBI, in its annual monetary policy at the beginning of the fiscal, had estimated credit offtake to grow by 20 per cent this financial year.<br /><br />However, in December 2010 the apex bank expressed concern at the widening ratio between the credit and deposit rates of banks. This has the potential to affect the supply of liquidity in the system due to higher lending by the banks vis-a-vis lower deposits.<br />In its recent third quarterly monetary policy review, RBI had observed that the deposit growth moderated during 2010.Several banks raised their deposit rates after the Second Quarter Review of 2010-11, which contributed towards a larger deposit mobilisation in December.<br /><br />Consequently, deposit growth increased to 16.5 per cent by end-December 2010, close to the indicative projection of 17 per cent for 2010-11.<br /><br />However, annual nonfood credit growth has been above the Reserve Bank's indicative projection of 20 per cent since early October 2010, rising to 24 per cent by end-December 2010, it said.<br /><br />The wide gap between credit growth and deposit growth resulted in a sharp increase in the incremental non-food credit-deposit ratio to 102 per cent by end-December 2010, up from 58 per cent in the corresponding period of previous year, it added.<br /><br />During the past few months, credit offtake has grown at the rate of 20 per cent on an average.<br /><br />Credit offtake has been higher this fiscal on account of large borrowings by telecom firms to pay for 3G spectrum licences.<br /><br />The government realised over Rs 1 lakh crore from the sale of spectrum for high speed mobile and broadband wireless services, much higher than the Budget estimate of Rs 35,000 crore.<br /><br />Credit rating agencies like Crisil had earlier said the country was likely to see credit offtake growth of around 20-22 per cent this fiscal.<br /></p>