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Credit score offtake rose by 15.5% YoY for the fortnight ended February 24, 2023. In absolute phrases, credit score offtake expanded by Rs 15.6 lakh crore to Rs 134.5 lakh as of February 24, 2023 from March 2022.

The expansion has been pushed by private loans, sturdy development in non-banking monetary corporations, greater working capital necessities attributable to inflation and an Indian foreign money depreciation and decrease borrowings from abroad markets.

With a bigger base, deposit development witnessed a slower development at 10.1% YoY in comparison with credit score development for the fortnight ended February 24, 2023.

Deposit charges have already risen and are anticipated to go up even additional attributable to elevated coverage charges, intense competitors between banks for elevating deposits to satisfy robust credit score demand, a widening hole between credit score and deposit development, and decrease liquidity out there.

The short-term weighted common name fee has reached 6.72% (as of February 24, 2023) rising by 104.0% YoY and 86.0% from March 31, 2022, attributable to an increase in coverage charges and decrease liquidity within the system.

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