How fast are India's bank credit and deposits growing?

History

Both are the RBI's year-on-year growth for all scheduled commercial banks: bank credit is loans, cash credit, overdrafts and bills; deposits are demand and time deposits from the public. The figures move by a point or more from one fortnight to the next.

The figures side by side

How we got this number

1. Take the 'Bank Credit' and 'Aggregate Deposits' rows from the RBI's 'Scheduled Commercial Banks - Business in India' statement for 15 October 2026, in the Weekly Statistical Supplement.
2. Read the Growth (Per cent) line under each row. The last of its five figures sits under the Year-on-Year 2026 column: 18.2 per cent for credit and 16.7 per cent for deposits.
3. Put it next to earlier fortnights from the same statement: credit growth of 19.1 per cent at 31 August, 18.1 per cent at 15 September and 19.4 per cent at 30 September 2026.

What this number does not tell you

• The statement covers scheduled commercial banks only, and the RBI notes the data include the effect of a non-bank merged with a bank from 1 July 2023.
• Growth swings around quarter-end because of how deposits and loans build up, so one fortnight is not a trend. The 15 October reading is lower than the 30 September one for both credit and deposits.
• The RBI publishes each fortnight's statement a few days after the date it covers, and the next one (31 October 2026) was not yet published when we checked on 1 November 2026.

Sources

1. RBI, Weekly Statistical Supplement, Scheduled Commercial Banks - Business in India, 15 October 2026, column headings, as on 15 October 2026Item Outstanding as on Oct. 15, 2026 Variation over Fortnight Financial year so far Year-on-Year 2025-26 2026-27 2025 2026 1 2 3 4 5 6
2. RBI, Weekly Statistical Supplement, 15 October 2026, bank credit row, as on 15 October 20267 Bank Credit 22742777 -252075 991782 1382880 1998080 3507023 7.1a Growth (Per cent) -1.1 5.4 6.5 11.6 18.2
3. RBI, Weekly Statistical Supplement, 15 October 2026, aggregate deposits row, as on 15 October 20262.1 Aggregate Deposits 27875910 -519170 1302614 1647123 2074883 3992695 2.1a Growth (Per cent) -1.8 5.8 6.3 9.5 16.7
4. RBI, Weekly Statistical Supplement, 30 September 2026, bank credit row, as on 30 September 20267 Bank Credit 22994658 665399 1017360 1634760 1963554 3733325 7.1a Growth (Per cent) 3.0 5.6 7.7 11.4 19.4
5. RBI, Weekly Statistical Supplement, 30 September 2026, aggregate deposits row, as on 30 September 20262.1 Aggregate Deposits 28395693 772627 1517980 2166906 2178455 4297111 2.1a Growth (Per cent) 2.8 6.7 8.3 9.9 17.8
6. RBI, Weekly Statistical Supplement, 15 September 2026, bank credit row, as on 15 September 20267 Bank Credit 22329258 -57894 658888 969361 1777809 3426398 7.1a Growth (Per cent) -0.3 3.6 4.5 10.4 18.1
7. RBI, Weekly Statistical Supplement, 31 August 2026, bank credit row, as on 31 August 20267 Bank Credit 22387567 379803 556713 1027670 1754084 3586881 7.1a Growth (Per cent) 1.7 3.1 4.8 10.3 19.1

Worked out by us: 1.5 (18.2 per cent credit growth minus 16.7 per cent deposit growth (RBI, 15 October 2026)).

Questions people ask

How fast is bank credit growing in India?

18.2% year on year at 15 October 2026, after 19.4% at 30 September 2026 (RBI, scheduled commercial banks).

How fast are bank deposits growing?

16.7% year on year at 15 October 2026, after 17.8% at 30 September 2026.

Is credit growing faster than deposits?

Yes. At 15 October 2026 credit growth of 18.2% was 1.5 points above deposit growth of 16.7%.

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This figure is from RBI's own release or a report quoting it. We recheck it monthly. If you have a newer or better source, send it to us.