The credit-deposit (C-D) ratio in NES is much lower at 34 per cent at the end of March 2010 than that of 73 per cent at the all-India level (Table 6). Even as credit expanded at a faster pace than deposits in the last decade, the gap remained very wide.
Frost (2020), Rise of the central bank digital currencies: drivers, approaches and technologies, BIS Working Paper, No 880; Kiff, J. et al. (2020), A Survey of Research on Retail Central Bank Digital Currency, International Monetary Fund, Working Paper, No 20/104. 5.