India’s credit-to-deposit ratio remains under 80% as lending growth continues to trail deposit inflows, according to a report by CareEdge Rating. According to news agency ANI, while both credit offtake and deposits have grown sequentially, the pace is slower than last year, narrowing the gap between the two.The report stated, “Credit to Deposit Ratio Remains Below 80 per cent as Credit Offtake Lags.” As of 25 July 2025, total credit stood at Rs 185.0 lakh crore, marking a 10.0% year-on-year increase. This was well below the 15.1% growth seen in the same period last year, excluding the impact of mergers. CareEdge attributed the slowdown to a high base effect and muted growth across sectors.On the deposit side, balances reached Rs 233.5 lakh crore, up 10.2% year-on-year, slightly lower than the 11.0% growth recorded a year ago. The report cited an unfavourable base effect, deposit repricing, and growing alternative investment avenues as reasons for the moderation.As per ANI, the credit-to-total-assets ratio stayed unchanged at 72.0%, while the Government Investment-to-total-assets ratio remained at 26.2%. Government investments totalled Rs 67.3 lakh crore, up 6.5% year-on-year and 0.2% compared with the previous fortnight.In deposit composition, time deposits to others rose 9.2% year-on-year to Rs 204.7 lakh crore, slower than the 10.9% growth recorded last year. Demand deposits, however, saw sharper growth, rising 17.7% to Rs 28.7 lakh crore.Despite the fortnightly improvement in both credit and deposits, CareEdge noted that the overall growth rate remains weaker than last year, keeping the credit-to-deposit ratio below the 80% threshold.