Banks see ₹5.19 lakh crore deposit outflow as credit shrinks
In short
Banks in Kolkata’s banking sector lost ₹5.19 lakh crore of deposits in the fortnight ending October 15. Credit outstanding also fell by ₹2.52 lakh crore over the same period, and growth rates slipped to 16.7% for deposits and 18.2% for credit.
This matters because weaker deposits can make lending harder and can pressure banks’ funding. The report does not say why the money moved out or whether this drop will last.
What the reporting says
Banks in Kolkata’s banking sector saw deposits fall by ₹5.19 lakh crore in the fortnight ended October 15, while credit outstanding contracted by ₹2.52 lakh crore. Credit growth slowed to 18.2% from 19.4%, and deposit growth eased to 16.7% from 17.8%. The report gives the latest totals for outstanding deposits and credit, but it does not explain why the outflow occurred or whether it was seasonal.
Why it matters
Banks in Kolkata’s banking sector recorded a deposit outflow of ₹5.19 lakh crore in the fortnight ended October 15, while credit outstanding fell by ₹2.52 lakh crore. The slowdown pulled deposit growth down to 16.7% and credit growth to 18.2%. The move matters for bank funding and lending capacity, but the reporting does not explain the cause beyond the reported figures.