Economy Jul 9, 2012
The Reserve Bank of India has expressed concern over slow deposit growth in a meeting with bankers, Alok Misra, chairman of the Indian Banks Association, said on Monday.
Bankers met the RBI Deputy Governor, Subir Gokarn, ahead of the monetary policy review on 31 July to give their views on macroeconomic parameters.
Deposits at Indian banks grew 14.3 percent in the year to 15 June, compared with 18.3 percent in the same period a year earlier. Lenders also discussed measures to boost liquidity going forward.
RBI projects deposit growth at 16 percent for banks in 2012/13.
More From Firstbiz Staff.