Under the individual category, deposits of farmers increased by 48.8 per cent during 2012-13, possibly on account of excess liquidity due to acceleration in minimum support price for most of the food and non-food products during this period, the RBI said in a study on the Composition and ownership pattern of deposits with scheduled commercial banks.
Households with 59.6 per cent share in total deposits were the largest contributor in total deposits as on March 31, 2013. Its share was 58.1 per cent in the previous year. The shares of the government sector and private corporate sector declined to 13.9 per cent and 12.4 per cent, respectively, from 14.6 per cent in the previous year. The deceleration in government as well as non-financial corporate sector deposits was mainly on account of decline in deposits of corporate, possibly on account of lower sentiments reflected by deceleration in industrial production and nominal GDP during 2012-13, it said.
According to the RBI, during the period of FY13, the increase of 1.5 per cent in the household sectors share was mainly on account of higher growth in deposits of individuals (including Hindu Undivided Families-HUFs). Within households, individuals (including HUFs) comprised largest share ranging 77-80 per cent of total household deposits. Proprietary and partnership firms (4.7-6.3 per cent) and trusts and associations (3.5-4.6 per cent) were other constituents of households deposits during the period 2006-2013.
The institutional ownership composition of various types of deposits indicates that the households which is the largest holder of total deposits outstanding with SCBs, also held the largest shares across the three types of deposits, viz., current, savings and term deposits during 2012-13. More than 80 per cent of savings deposits, more than 50 per cent of term deposits and more than 40 per cent of current deposits are held by households.
As regards current deposits, the non-financial private corporate sector was the second largest contributor followed by the government sector during FY13, the RBI said.