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BANKING SECTOR

Aggregate y-o-y% Bank y-o-y% Credit to y-o-y% Credit to y-o-y% Personal y-o-y%
Deposit (Rs Credit (Rs Industry (Rs Services (Rs Loans (Rs
lakh crore) lakh crore) lakh crore) lakh crore) lakh crore)

FY22 164.7 118.9 31.5 30.4 33.7

FY23 180.4 ▲ 9.5 136.8 ▲ 15.1 33.4 ▲ 5.9 36.1 ▲ 18.9 40.9 ▲ 21.4

FY24 203.7 ▲ 12.9 159.0 ▲ 16.3 36.7 ▲ 9.9 44.9 ▲ 24.4 49.2 ▲ 20.5

Dec-23 199.6 153.9 36.5 42.9 47.4

Jan-24 199.4 ▼ 12.5 154.9 ▲ 16.1 36.0 ▼ 9.5 43.4 ▲ 24.9 48.0 ▲ 21.1

Feb-24 200.9 ▲ 12.5 156.7 ▲ 16.5 36.3 ▲ 10.3 44.1 ▲ 25.3 48.5 ▲ 20.9

Mar-24 203.7 ▲ 12.9 159.0 ▲ 16.3 36.4 ▲ 9.9 44.9 ▲ 24.4 49.2 ▲ 20.5

Apr-24 206.4 ▲ 12.7 159.7 ▲ 15.3 36.4 _ 6.9 45.0 ▲ 19.2 49.5 ▲ 17.4

May-24 209.9 ▲ 12.2 162.7 ▲ 16.1 36.9 ▲ 9.9 45.9 ▲ 24.6 50.0 ▲ 20.7

Jun-24 212.0 ▲ 10.6 163.8 ▲ 13.9 37.1 ▲ 7.7 46.2 ▲ 15.1 50.9 ▲ 19.5

Jul-24 211.1 ▼ 11.0 163.2 ▼ 15.1 37.0 ▼ 10.2 45.2 ▼ 15.4 51.4 ▲ 17.8

Aug-24 212.4 ▲ 11.3 164.6 ▲ 15.0 37.4 ▲ 9.8 45.6 ▲ 15.6 51.7 ▲ 16.9

Sep-24 214.3 ▲ 12.0 166.5 ▲ 14.4 37.9 ▲ 9.1 46.5 ▲ 15.2 52.2 ▲ 16.4

Oct-24 219.7 ▲ 12.2 169.8 ▲ 13.2 37.6 ▼ 8.0 47.0 ▲ 14.1 52.8 ▲ 15.8

Nov-24 219.5 ▼ 11.1 170.5 ▲ 11.8 37.9 ▲ 6.0 47.6 ▲ 15.2 53.7 ▲ 16.5

Dec-24 220.0 ▲ 10.2 173.0 ▲ 12.4 38.4 ▲ 5.3 48.8 ▲ 14.0 54.4 ▲ 14.9

Jan-25 220.6 ▲ 10.6 174.3 ▲ 12.5 38.6 ▲ 8.2 49.4 ▲ 13.8 54.7 ▲ 14.2

Feb-25 222.2 ▲ 10.6 175.6 ▲ 12.0 NA NA NA

Note: Bank credit numbers exclude impact of HDFC merger September 2023 onwards
The movement in arrows denotes the improvement/deterioration vis-à-vis the previous month. NA is not available

QUARTERLY JOURNAL OF ECONOMICS 43
APRIL 2025