Credit growth at 12% beats 10% deposit rise in April-Jan

Group 1 - Aggregate deposits in India grew by 10.2% in the financial year to January 31, with banks adding Rs 23 lakh crore, while credit expanded by 12.2% or Rs 22.3 lakh crore during the same period [2][4] - Year-on-year credit growth reached a 19-month high of 14.6% as of end-January 2026, compared to 11.4% a year earlier, while deposit growth improved to 12.5% from 10.3% [2][4] - The incremental credit-deposit (CD) ratio climbed to 96.9%, indicating that banks lent out nearly Rs 97 for every Rs 100 of fresh deposits raised during the year [4] Group 2 - Retail and MSME loans are driving growth, with Canara Bank's RAM book showing an 18.7% growth, led by retail loans growing 31.4% and MSME loans up 13.7% [3][4] - Canara Bank plans to capitalize on retail momentum with an advances growth guidance of more than 13.6% [3][4] - Savings bank deposits are growing at 8.5%, with individual savings accounts rising over 10% and current accounts growing nearly 15% [3][4] Group 3 - Non-food credit rose by Rs 25.7 lakh crore year-on-year to Rs 203.9 lakh crore, with lending primarily funded through household savings rather than surplus central bank liquidity [2][4] - State Bank of India (SBI) has revised its credit growth guidance to 13-15% for the year, supported by a Rs 7 lakh crore pipeline [4] - ICICI Bank reported a broad-based improvement in growth across retail and corporate segments, with momentum expected to sustain into the fourth quarter [4]