1. It’s on the house

It’s on the house

Households contribute around 60% of the total deposits of scheduled commercial banks...

By: | Updated: August 12, 2016 1:19 PM

Households contribute around 60% of the total deposits of scheduled commercial banks, followed by the government. The share of deposits in foreign banks rose in FY14, mainly on account of a substantial increase in non-residents’ deposits because of policy changes by the Reserve Bank of India. Term deposit is the most preferred instrument for household savings as deposits rates were quite competitive during 2012 to 2014  compared to other sources of investment, such as equity and gold. State-owned banks hold the largest share of total deposits in the range of 70% to 74.6% between 2007 and 2014.

 

 

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