Good growth in credit stock

Bank Credit has grown to a steady 16% rate all year, though the rate was higher than 20% till as late as September with year end 31-Dec Stock of INR 43.67 Tln or $0.91 Tln from below INR 41 tln in the first week of September on 09-Sep to a net INR 44.87 tln $0.935 tln in the week before the budget on 09-Mar. Deposits are up to INR 58.5 tln or $1.22 tln.  Deposits are up 14% for the year and Investments in bonds and Fixed Income 18% 

HDFC Bank recently announced more than 6,200,000 new rural customers thru loan festivals organised by the bank in ruralheartlands leveraging its distribution and plans to hold 500 such “Grameen Mega” next fiscal reaching 10 mln families with CV / Tractor / Auto loans to direct Agricultural loans for crop maintenance under viable financing (ET  03/19)



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