The provisional data also showed that the gap between deposit and credit growth widened for many banks over the past quarter. For instance, IDFC First Bank’s deposit growth was 300 bps above its credit growth in Q3, which reversed to a 280 bps deficit in the March quarter. Similarly, Kolkata-based Bandhan Bank’s deposit growth was 120 bps over its credit growth in Q3. However, in Q4, credit grew 260 bps higher than deposits.
