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The Reserve Bank of India (RBI) in its 'Quarterly Statistics on Deposits and Credit of SCBs for June 2022', which released on August 25, has stated that bank credit growth accelerated to 14.2 per cent in the quarter ended June 2022 from 6 per cent in the same period of the previous year. In the quarter ended March 2022, bank credit had expanded by 10.8 per cent.

It mentioned credit growth has been broad-based: all the population groups (i.e., rural, semi-urban, urban and metropolitan), all the bank groups (i.e., public/private sector banks, foreign banks, RRBs and SFBs) and all the regions of the country (i.e., central, eastern, north-eastern, northern, southern and western) recorded double-digit annual credit growth in June 2022.

Further, it stated that aggregate deposit growth (year-on-year) has remained in the range 9.5 - 10.2 per cent during the last five quarters. Besides, it said the share of current account and savings account (CASA) deposits in total deposits has been increasing over the last three years (42 per cent in June 2020, 43.8 per cent in June 2021 and 44.5 per cent in June 2022).