Commercial bank credit grows by 31.2 per cent

Mumbai, Sept 16: The credit disbursed by scheduled commercial banks grew by 31.2 per cent on a yearly basis from September 1, 2006.

In the last week, bank credit grew by 32 per cent (as on August 25). The disbursements as on September 1, 2006 were Rs 15,92,628 crore as reported by RBI in its weekly statistical supplement of September 15, 2006.

The bank credit as on September 1, 2006 looked more tilted towards the non-food sector. The credit to the food sector reduced by Rs 3543 crore from September 2, 2005 to September 1, 2006. As on September 1, 2006, out of the Rs 15,92,628 crore disbursed, an amount of Rs 36,529 crore was food credit. The balance sum, i.e Rs 15,56,100 crore, was allocated to the non-food sector.

On September 1, 2006, the credit-deposit ratio stood at 70.73, while the cash-deposit ratio and investment deposit ratio were 6.06 and 34.13 respectively.

The total liabilities of the scheduled commercial banks to the banking system for the above period dropped considerably by Rs 10,422 crore to Rs 70,131 crore. However, their liabilities to others increased. They shot up by Rs 8,23,594 crore to Rs 47,82,023 crore. During the period under consideration, the aggregate deposits grew by 21.3 per cent.

UNI