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<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns="http://www.w3.org/1999/xhtml"> <head> </head> <body> <div style="font-family:Verdana, Geneva, sans-serif; font-size:12px; text-align:justify"> <table width="800" border="0" style="border:1px solid #ccc;padding:5px;" align="center" cellpadding="6" cellspacing="0"> <tr> <td align="left" valign="top"> <br /> Reserve Bank of India <br /><br /> Reserve Bank releases deposits with Scheduled Commercial Banks - March 2024<br /><br /> MANU/RPRL/0372/2024 - (04 Jun 2024)<br /><br /> </td> </tr> <tr> <td align="left" valign="top"></td> </tr> <tr> <td align="left" valign="top" style="background-color:#FDEDCE"><strong>The Reserve Bank released the web publication 'Deposits with Scheduled Commercial Banks2 - March 20243' on its 'Database on Indian Economy' portal.<br><br> Scheduled commercial banks (SCBs) {including regional rural banks (RRBs)} report branch-wise data on type of deposits (current, savings and term), its institutional sector wise ownership, age wise distribution of deposits pertaining to individuals, maturity pattern of term deposits as well as number of employees in the annual 'Basic Statistical Return' (BSR) - 2 return. These data are released at disaggregated level (viz., type of deposits, population groups5, bank groups, states, districts, centres, interest rate ranges, size, original and residual maturity).<br><br> Highlights:<br><br> Bank deposits increased (y-o-y) by 13.0 per cent, net of merger (13.5 per cent including the impact of merger) during 2023-24 as compared to 10.2 per cent growth in the previous year; deposits of all population groups (viz., rural, semi-urban, urban and metropolitan) accelerated in the latest year.<br><br> Household sector6 remained the largest group of depositors with 61.1 per cent share; female depositors within this sector held 20.7 per cent of total deposits of SCBs in March 2024.<br><br> More attractive return resulted in very high share (78.5 per cent) of incremental deposits accruing under term deposits during 2023-24; term deposits bearing six per cent and above interest rate accounted for 86.6 per cent of total term deposits (outstanding) in March 2024 as compared with 61.1 per cent share one year ago and 14.4 per cent share two years ago.<br><br> Current, savings and term deposits accounted for 9.8 per cent, 30.8 per cent and 59.4 per cent, respectively, of total deposits in March 2024.<br><br> During 2023-24, 79.1 per cent of the rise in term deposits were mobilised in the maturity bucket of one to three years; this category accounted for nearly two thirds of outstanding term deposits at year-end.</strong></td> </tr> <tr> <td align="left" valign="top" ><strong></strong></td> </tr> <tr> <td align="left" valign="top" ><strong>Tags : Deposits, Release, Commercial bank</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <!--<td><strong>Source : <a target="_new" href="http://www.manupatrafast.com/">newsroom.manupatra.com</a></strong></td>--> <td align="left" valign="top"><strong>Source : newsroom.manupatra.com</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <td align="left" valign="top">Regards</td> </tr> <tr> <td align="left" valign="top">Team Manupatra</td> </tr> <tr> <td align="left" valign="top"> </td> </tr> </table> </div> </body> </html>