Mumbai: Indian private and public sector
banks (PSBs) had aggregate
savings
deposits of
Rs 39.72 lakh crore as on March 31, 2019, while foreign
banks had a share of
Rs 58,630 crore, according to
RBI data published in the Handbook of Statistics on Indian
Economy
2018-
19.
The total
savings
deposits with commercial
banks, including foreign ones, in
2018-
19 stood
at
Rs 40.31 lakh crore,
up from
Rs 36.55 lakh crore in 2017-18, the data showed.
The
savings
deposits with Indian
banks stood
at
Rs 35.99 lakh crore in 2017-18, the Reserve
Bank of India (RBI) said, while it stood
at
Rs 55,896 crore for foreign
banks in the same fiscal.
As
at the end of the first quarter ending June, the
PSB's credit growth was
up 8.7 per cent, while the aggregate desposits growth was 6.7 per cent.
The foreign
banks' credit growth was 5.4 per cent and the aggregate desposits growth was 19.3 per cent, according to the quarterly data on
deposits and credits of commercial
banks released earlier this month.
Aggregate
deposits with scheduled commercial
banks registered a double-digit growth in the first quarter of the fiscal after a period of nearly two years, although expansion in bank credit declined marginally.
India's GDP growth recorded for the first quarter of the fiscal
at 5 per cent is
at a six-year low.
Aggregate
deposits grew 10.1 per cent in the quarter ended June 30, against 7 per cent in the same period a year ago. This is the highest growth since the quarter ended June 2017, when aggregate
deposits grew by 12.6 per cent.
"Aggregate
deposits growth year-on-year moved back to double-digits after two years. Notwithstanding a modest pick-
up, public sector
banks continued to lag in deposit mobilisation," the RBI said.
Bank credit between April and June this year grew by 11.7 per cent, against a growth of 11.1 per cent in the same period last fiscal. This was however, much lower than the 13.1 per cent growth in bank credit in the fourth quarter of the last fiscal.
"All bank groups recorded deceleration in credit growth during the April to June 2019 quarter," the RBI said, adding that private sector
banks led other bank groups in growing loan portfolios.
Private
banks registered a growth of 16.3 per cent in aggregate
deposits and of 17.5 per cent in bank credit in the first quarter of the fiscal, against public sector
banks that had a deposit growth of 6.7 per cent and bank credit growth of 8.7 per cent in the same quarter.