Foreign banks accounted for 7.5 per cent of deposits while other commercial banks and regional rural banks accounted for 10.1 per cent and 3.6 per cent respectively.

However, nationalised banks accounted for only 47.8 per cent of the total bank credit while State Bank of India and its associates claimed a share of 30.3 per cent. Foreign banks, other commercial banks and regional rural banks followed with shares of 8.7 per cent, 10.3 per cent and 2.9 per cent respectively.

Among the states, the annual growth rate of deposits was the highest in Andhra Pradesh at 27.6 per cent while the annual growth rate of credit was the highest in Arunachal Pradesh at 42.4 per cent. Orissa, Delhi, Uttar Pradesh and Himachal Pradesh recorded deposit growths of 26.7 per cent, 24.4 per cent, 23 percent and 22.7 per cent respectively. Delhi, Jammu & Kashmir, Rajasthan and Meghalaya recorded credit growths of 34.5 per cent, 33 per cent, 25.3 per cent and 24.8 per cent respectively.

Six states -- Maharashtra, Delhi, Uttar Pradesh, West Bengal, Tamil Nadu and Gujarat -- together accounted for a total share of 60.3 per cent of aggregate deposits. Similarly, six states -- Maharashtra, Delhi, Tamil Nadu, Andhra Pradesh, Karnataka and West Bengal -- together accounted for a total share of 69.3 per cent of gross bank credit. Maharashtra alone contributed 20 per cent of total deposits and 24.8 per cent of total credit.

The all-India credit-deposit (CD) ratio on the last Friday of June, 1998, worked out to 54.5 per cent. The ratio for State Bank of India and its associates stood at 66.5 per cent and foreign banks at 63 per cent. CD ratios of regional rural banks and nationalised banks was much lower at 44.8 per cent and 48.2 per cent respectively.