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Saturday, September 5, 2009
To a question as to assessment of how much capital is required by the banks, he said: "We have an assessment of the capital required. We are not in a position to share that figure right now." According to RBI's revised estimate, deposit growth for commercial banks would be 19% for the current financial year. It is an upward revision from 18% set in April 2009 as part of a plan to maintain ample liquidity in the system. The money supply growth is also revised to 18%, up from 17°/<) projected in the annual policy statement issued in April this year.
It was important that the increased government borrowings did not crowd out credit flow to the private sector. The y-o-y growth in deposits till July 3 2009, was 21.9%. The outstanding deposit of banks stood at Rs 40,28,707 cr, according to RBI data. On deposit growth across bank groups, the pace of deposit growth for public sector banks has accelerated, while that for private and foreign banks has slowed down. For 12 months ended July 3, 2009, deposits with public sector banks increased 26.4%, up from 23.1 % witnessed in the preceding 12 months.
Private sector banks witnessed a slowdown in the deposit growth. The y-o-y growth in deposits nosedived to 6.7% as on July 3, 2009, from 17.4% year ago. As far as foreign banks are concerned, moderation in deposit growth was 16.4% as on July 3, 2009, from 20.9% a year ago. This was due to lower deposit base of these banks. Bankers felt that the status quo on policy rates would anchor interest rate expectations that could spur investment demand. They indicated that they are seeing signs of revival in the domestic
It was important that the increased government borrowings did not crowd out credit flow to the private sector. The y-o-y growth in deposits till July 3 2009, was 21.9%. The outstanding deposit of banks stood at Rs 40,28,707 cr, according to RBI data. On deposit growth across bank groups, the pace of deposit growth for public sector banks has accelerated, while that for private and foreign banks has slowed down. For 12 months ended July 3, 2009, deposits with public sector banks increased 26.4%, up from 23.1 % witnessed in the preceding 12 months.
Private sector banks witnessed a slowdown in the deposit growth. The y-o-y growth in deposits nosedived to 6.7% as on July 3, 2009, from 17.4% year ago. As far as foreign banks are concerned, moderation in deposit growth was 16.4% as on July 3, 2009, from 20.9% a year ago. This was due to lower deposit base of these banks. Bankers felt that the status quo on policy rates would anchor interest rate expectations that could spur investment demand. They indicated that they are seeing signs of revival in the domestic
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