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Our Bureau

Mumbai, July 15

Deposits with scheduled commercial banks (SCBs) surged by Rs 63,776 crore in the fortnight ended July 3, as against an accumulation of Rs 6,116 crore in the previous fortnight.

In the reporting fortnight, time and demand deposits jumped by Rs 42,438 crore and Rs 21,338 crore respectively.

Credit offtake from SCBs was up by Rs 27,609 crore ( Rs 22,029 crore). The credit numbers clearly indicate a strong across the board borrowing appetite from corporates, MSMEs, agriculture, and the retail sector, said bankers.

Thanks to the government’s huge borrowing programme, investments by banks, predominantly in government securities, were higher at Rs 42,843 crore in the reporting fortnight as against an investment of Rs 18,856 crore in the preceding fortnight.

More Stories on : Fixed Deposits

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