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Bank credit growth steady at 11.5%, deposits growth moderates to 9.8% in December 2024

09-Jan-25 16:30 Hrs IST

The Scheduled commercial banks (SCBs) credit growth has remained steady on sequential basis at 11.5% YoY to Rs 17742873 crore as on 27 December 2024, compared with 11.5% growth a fortnight ago. The credit growth has decelerated from 20.0% growth at end December 2023.

Non-food credit, accounting for 99.7% of the share of the total credit, recorded a growth of 11.4%, YoY, at Rs 17686734 crore as on 27 December 2024 as against a rise of 11.4% fortnight ago and 20.1% rise a year ago.

Food credit moved up 23.1% to Rs 56139 crore as on 27 December 2024.

The overall credit-deposit ratio moved up on sequential basis to 80.4% as on 27 December 2024 from 79.7% a fortnight ago, while increased from 79.5% in December 2023 with the faster growth in advances.

Aggregate deposits growth of the scheduled banks decelerated on sequential basis to 9.8% YoY at Rs 22063132 crore as on 27 December 2024, compared with 11.5% growth a fortnight ago and dipped from 13.3% rise a year ago. The time deposits of the banks moved up 10.4% at Rs 19493033 crore, while the demand deposits increased 5.4% to Rs 2570099 crore as on 27 December 2024.

The banks investment in government and other approved securities that qualify for treatment of statutory liquidity ratio increased 10.0% YoY to Rs 6594377 crore as on 27 December 2024, remaining steady from 10.0% increase a fortnight ago. The banks investment had moved up 17.6% in December 2023.

The investment-deposit ratio rose on sequential basis to 29.9% as on 27 December 2024 from 29.7% a fortnight ago, while moved up from 29.8% in December 2023. The investment-deposit ratio is much higher above the Statutory Liquidity Ratio of 18.0%.

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Sr No	Start Date	Department	Tender Details	Status
1	07-12-2024	Administration	RFP for office premises on lease at Chennai	16-12-2024
			A. News Paper Article
			B. General Information
			C. Technical Bid
			D. Financial Bid
			E. Pre Bid Meeting Link
			F. Technical BID Meeting Link
			G. Financial BID Meeting Link
2	10-06-2024	IA	RFP for appointment of internal auditors for period April 2024 – March 2025	Active upto 21/06/2024 end of the day
			A. Request For Proposal
			B. Extension of RFP
3	10-06-2024	IA	RFP for appointment of internal auditors and Concurrent Audit for period April 2024 – March 2025	Active upto 21/06/2024 end of the day
4	22-11-2023	Compliance	Procurement of AML/PML software Solution - VC Meeting Link for opening of Tender Box on 22/11/2023 at 4.30 pm	Closed
5	16-10-2023	Compliance	RFP for Procurement of AML/PML software solution
	06-11-2023	Compliance	A. Addendum - Extension Period for procurement of AML/PML sofware solution
6	28-10-2024	IT	RFP for Procurement of Firewall	Closed
			A. General Information
			B. Technical Bid
			C. Financial Bid
7	12-07-2023	ADMIN	RFP for Premises on Lease for Ahmedabad Branch
			A. Newspaper Aricle
			B. General Information
			C. Technical Bid
			D. Financial Bid
8	07-07-2023	CS	RFP for Secretarial Audit
9	26-06-2023	IT	RFP for AMC of Online UPS system installed at IFINs Branch office	Closed
			A. General Information
			B. Technical Bid
			C. Financial Bid
10	16-06-2023	IT	E-tender for engagement of annual system audit and cyber security audit agency	Closed
			A. General Information
			B. Technical Bid
			C. Financial Bid
11	15-06-2023	IT	RFP for AMC of 30KVA Online UPS system	Closed
			A. General Information
			B. Technical Bid
			C. Financial Bid
12	30-05-2023	ADMIN	RFP for Premises on Lease for Ahmedabad Branch	Cancelled
			A. Newspaper Aricle
			B. General Information
			C. Technical Bid
			D. Financial Bid
			E. Extension of RFP
			F. Closure of RFP
13	24-05-2023	ADMIN	RFP for Premises on Lease for Salem Branch	Closed
			A. Newspaper Aricle
			B. General Information
			C. Technical Bid
			D. Financial Bid
14	24-04-2023	IA	Extension Of RFP iCOM IA for FY 2023-2024	Closed
15	25-04-2023	CS	Extension Of RFP for Seeking Quotations for Secretarial Audit Of IFIN Group for FY 2022-2023	Cancelled
			A. Status_of_RFP_for_secretarila_audit
16	02-05-2023	IA	RFP For Appointment Of Internal Auditor for July 2023 - March 2024	Closed
17	02-05-2023	IA	RFP For Appointment Of Internal Auditor for July 2023 - March 2024 for operations, accounts and control related activities.	Closed
18	24-04-2023	CS	RFP PCS Empannelment for ROC filing 2022-23	Closed
19	24-04-2023	IA	RFP For Appointment Of Internal Auditor iCOM 23-24	Closed
20	14-03-2023	IA	RFP for appointment of internal auditor in the iCOM	Closed
21	25-04-2023	CS	RFP For Secretarial Audit 22-23	Closed