Borrowings by public-sector banks surged nearly 29% year-on-year in the June quarter, compared with growth of about 3% at private banks. The divergence coincided with private banks widening their deposit-growth advantage over state-owned lenders to nearly four percentage points. Private banks grew deposits 14.3% year-on-year in the quarter, ahead of the 10.7% expansion recorded by PSU banks, helping them gain deposit market share.
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