Both Union Finance Minister Nirmala Sitharaman and Reserve Bank of India (RBI) Governor Shaktikanta Das recently expressed concern over the wide gap between credit and deposit growth in the banking system. In fact, Mr Das has been categorically pointing out this anomaly in his public appearances. For instance, in the statement announcing the monetary policy decision last week, he noted that alternative investment avenues seemed to be becoming more attractive for retail customers, resulting in challenges for banks on the funding front. Consequently, banks depend on short-term non-retail funds and other instruments to meet the incremental credit
