- The RBI in its report stated that the bank credit growth in Q2FY23 grew at 17.2% in comparison to 7% in Q2FY22.
- It further mentioned that the year-on-year (y-o-y) aggregate deposit growth for Q2FY23 stood at 9.8%.
- According to the report the year-on-year (y-o-y) term deposit growth for Q2FY23 stood at 10.2%.
- The RBI also imposed a monetary penalty on two Mumbai-based cooperative banks viz. the Zoroastrian Co-operative Bank and the Bharat Co-operative Bank for non-compliance with RBI directions.
- The RBI is the Government of India-owned central bank of the country that was established in 1935 with its headquarters in Mumbai. The current Governor of it is Shaktikanta Das.
Question:
Q.1 According to the RBI’s “Quarterly Statistics on Deposits and Credit of SCBs: September 2022”, the bank credit growth in Q2FY23 was?a. 16.2%
b. 17.2%
c. 18.2%
d. 19.2%
