Banks’ investment in G-Secs, SDLs surges over ₹1-lakh cr in first fortnight of CY23

Bank credit de-grew in the first fortnight of the new calendar year even as they stepped up investment in government securities and State Development Loans, according to Reserve Bank of India’s Scheduled Banks’ Statement of Position in India.

Outstanding credit of all scheduled banks declined by ₹19,685.50 crore, with banking experts stating that it could be due to short-term corporate loans extend by Banks in the run up to the third quarter-end getting paid off.

Investments by banks in G-Secs and State Development Loans surged by ₹1,04,685 crore.

Bank deposits declined by ₹56,590 crore in the reporting fortnight, per RBI data.

Stay connected with us on social media platform for instant update click here to join our T witter, & Facebook

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

For all the latest For Top Stories News Click Here

Read original article here

Denial of responsibility! Rapidtelecast.com is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.