Aided by increase in disbursements, bank credit has gone up by Rs 25,875 crore during the fortnight ended February 25, 2011.
According to the latest data by the Reserve Bank of India (RBI), bank credit grew by 23.2% on a year-on-year basis at the end of February 25 to Rs 3,810,445 crore.
RBI has targeted a credit growth of 20% and deposit growth of 18% for this financial year. The central bank had flagged concerns over the widening gap between the incremental credit and deposit ratio. While credit growth has remained robust during the year, banks have not been able to mobilise deposits.
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