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| Topic: |
Business
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| Number of pages / Number of words: |
3 / 765 |
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Top Indian banks have increased their earnings by almost 40 per cent year-on-year for the same period. According to latest Reserve Bank of India (RBI) data, bank credit grew by 24.6 per cent year-on-year as of December 19, 2008. The resulting credit growth was even better at 41 per cent during the April-end-December 2008 period...
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The resulting credit growth was even better at 41 per cent during the April-end-December 2008 period. Deposits grew by 20.6 per cent as of December 19, 2008.
The growth in advances reflects that the net interest income (NIM) too would indicate higher growth rate. RBI has taken a number of steps to lower the cost of credit in this quarter like cutting cash reserve ratio (CRR), the amount of funds banks have to keep on deposit with it, repo and reverse repo rate...
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