RBI Data on Bank deposits in FY21

Reserve Bank of India (RBI) released its “Deposits with Scheduled Commercial Banks – March 2021 data” on September 23, 2021.

Highlights

• As per RBI data, Bank deposits have increased by 11.9 per cent year-on-year during 2020-21 as compared to 8.8 per cent in 2019-20.
• Deposits increased in light of high growth in current account and savings account (CASA) deposits.
• Share of CASA deposits climbed up to 43.7 per cent in March 2021 against 41.7 per cent in 2020.

Institutional category

Among the institutional categories, household sector has 64.1 per cent share in total deposits. Individuals, including Hindu Undivided Families (HUFs), are the major constituent of the household sector. They have contributed about 55.8 per cent in aggregate deposits.

Non-financial corporations category

Bank deposits of non-financial corporations has increased by 18.8 per cent during 2020-21. In March 2021 itself, their share in total deposits increased to 16.2 per cent.

Which banks contributed the most?

Metropolitan branches of banks accounted for more than half of total deposits. Their total share stands at 59.6 percent of incremental deposits during 2020-21 as opposed to 43.2 per cent in 2020.

States that contributed the most

Three major states namely Maharashtra, UP and Karnataka accounts for one-third of total household sector’s outstanding deposits. During 2020-21, they accounted for more than 40 per cent of the total incremental deposits.

Share of private sector banks

Share of private sector banks in total bank deposits still continue to increase at the cost of public sector banks. It accounts for 30.5 per cent as compared to 29.5 per cent in 2020.

Month: Current Affairs - September, 2021