Mumbai, Jan. 15 -- Banks in India added more deposit than loans in 2024 leading to softening of the credit-deposit ratio, even as deposit growth failed to keep pace with advances, showed latest data from Reserve Bank of India.
The gap between deposits and non food credit widened to over Rs.2 lakh crore last year, higher than Rs.1.3 lakh crore in 2023. Non-food credit is bank credit adjusted for loans given to Food Corp. of India (FCI). In 2022, per RBI data, banks the gap between deposits and loans was Rs.2.6 lakh crore. Data for 2023 exclude the impact of HDFC Ltd and HDFC Bank merger that added to the banking sector's loans and deposits.
Lenders faced a deposit crunch in 2024 as credit growth outstripped rise in deposits. While credit g...