Bank credit grew 5.56 per cent to Rs 109.51 lakh crore, while deposits rose 11.4 per cent to Rs 151.13 lakh crore in the financial year ended March 31, 2021, data released by the Reserve Bank of India (RBI) showed. In the 2019-20 fiscal, advances had grown at 6.1 per cent and deposits at 7.9 per cent. "Though the interest rates of banks have reduced by 107 basis points from February 2020 to February 2021, the overall credit growth continued to moderate due to risk aversion and continued parking of excess liquidity with the RBI," Care Ratings said in a recent report. In FY22, bank credit is likely to increase given the growth in the economy and the base effect coming into play, it added. However, downside risks include lockdowns in key states, impacting the industry as well as the service segments, it said.