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Saving Deposits Of Banks Rose To Rs 39.72 Lakh Crore In 2018-19, Says RBI

The total savings deposits with commercial banks, including foreign ones, in 2018-19 stood at Rs 40.31 lakh crore.

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Saving Deposits Of Banks Rose To Rs 39.72 Lakh Crore In 2018-19, Says RBI

Country's GDP expanded 5 per cent in the quarter ended June 30.

The aggregate saving deposits of public and private sector banks (PSBs) stood at Rs 39.72 lakh crore as on March 31, 2019, according to Reserve Bank of India (RBI) data published in Handbook of Statistics on Indian Economy 2018-19. On the other hand, foreign banks had a share of Rs 58,630 crore in terms of savings deposits in the same fiscal, the data showed. The total savings deposits with commercial banks, including foreign ones, in 2018-19 stood at Rs 40.31 lakh crore, up from Rs 36.55 lakh crore in 2017-18.
Here are 10 things to know:
  1. The savings deposits with banks stood at Rs 35.99 lakh crore in 2017-18, the data showed.
  2. In the same fiscal, the savings deposits with foreign banks stood at Rs 55,896 crore.
  3. The public sector bank's credit growth was up 8.7 per cent, while the aggregate deposit growth was 6.7 per cent at the end of the first quarter ending June.
  4. Aggregate deposits with scheduled commercial banks registered a double-digit growth in the first quarter of the fiscal after a period of nearly two years. However, expansion in bank credit declined marginally, the data showed.
  5. Aggregate deposits grew 10.1 per cent in the quarter ended June 30, against 7 per cent in the same period a year ago.
  6. The foreign banks' credit growth was 5.4 per cent and the aggregate deposit growth was 19.3 per cent, according to the quarterly data on deposits and credits of commercial banks released earlier this month
  7. Bank credit between April and June this year grew by 11.7 per cent, against a growth of 11.1 per cent in the same period last fiscal.
  8. Private banks registered a growth of 16.3 per cent in aggregate deposits and of 17.5 per cent in bank credit in the first quarter of the fiscal. The public sector banks had a deposit growth of 6.7 per cent and bank credit growth of 8.7 per cent in the same quarter.
  9. Official data released last month showed that country's GDP or gross domestic product expanded 5 per cent in the quarter ended June 30, marking the slowest pace since March 2013.
  10. The GDP data highlighted concerns about a downturn in the economy amid production cuts and lakhs of estimated job cuts in the auto sector.




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