The fortnightly decline came alongside a slowdown in annual deposit growth. Deposits were still higher than a year earlier, with year-on-year growth at 14.7%. That distinction matters: a fall over two weeks does not mean the deposit base has also shrunk compared with the previous year.

The report points to withdrawals and a change in banks’ funding choices. Banks are letting bulk deposits mature without renewing them and are choosing foreign currency funds instead. This move contributed to the slower annual growth in deposits, even as the total deposit base remained above its year-earlier level.

Outstanding bank credit also decreased over the fortnight. However, the supplied report does not give the credit total or the size of that decline. It also does not state how much deposits fell in rupee terms, limiting any comparison between the two movements.

The figures therefore show a short-period reduction in both deposits and credit, rather than a complete picture of lending and funding trends. The report does not provide bank-wise details or identify which lending segments recorded a fall.