Fortnightly Report for the Banking Sector - June 2010
The system credit growth for the fortnight ended June 4, 2010 was up 19.3% yoy and higher than the 18.1% yoy growth of the prior fortnight ended May 21, 2010 driven primarily by the demand from corporates for their 3G & BWA auction commitments to the government. Deposit growth for this period at 14.3% yoy, though marginally better than the 14.2% yoy growth of the previous fortnight, has remained somewhat muted due to competition from corporate deposits which are carrying attractive interest rates.