Directors' Report 1972 A SIZEABLE growth in deposits, a slackening in the pace of credit extension, a large build up of investments and a slight slow down in the tempo of branch expansion were the Highlights of the banking system's operations during the year 1972. Deposits rose by a record Rs. 1209 crores, Rs. 54 crorcs higher than in 1971. The rate of deposit growth at 17.4% was, however, somewhat lower than in the previous year (19.9%). Credit outstandings were up by only Rs, 346 crores or about 7% against Rs. 509 crores (11%) in the preceding year. Thus, credit-deposit ratio plummeted from 72.8% in 1971 to 66.3% in 1972. For the first time in recent years incremental investments in Government securities at Rs. 508 crores (or 42% of deposit accretion), outpaced growth in credit outstandings. The number of new branches opened in 1972 was 1763 against 1805 in the previous year.