Credit races ahead of deposits, banks face funding pressure

MUMBAI, 10 November: Indian banks are lending faster than they are raising deposits. Bank credit stood at ₹2,27,42,777 crore in the fortnight ended October 15, ₹35,07,023 crore more than a year earlier. That is growth of about 18.2% on the desk’s arithmetic. Deposits grew more slowly. They reached ₹2,78,75,910 crore, up ₹39,92,695 crore, or about…