RBI data: Half of bank deposits contributed by individuals
The shares of current, savings and term deposits stood at 9.7 per cent, 32.1 per cent and 58.2 per cent, respectively, in March 2018, revealed the data released by the central bank today.
Total deposits in banks increased from Rs 1,09.43 lakh crore at end-March 2017 to Rs 117 lakh crore in March 2018.
"Non-resident deposits recorded higher growth than aggregate deposits during the year, after witnessing an outflow in the previous year. Nearly two-thirds of incremental deposits were contributed by the household sector, followed by the foreign sector and the financial sector," the RBI said.
The private corporate sector, however, maintained substantial deposits with private banks.
Uttar Pradesh was the highest contributor to incremental deposits by households for the second consecutive year, with Maharashtra, Telangana and Karnataka also recording significant shares in deposit mobilisation.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)