Quarterly BSR-2: Deposits with Scheduled Commercial Banks - September 2024

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Quarterly BSR-2: Deposits with Scheduled Commercial Banks - September 2024

Today, the Reserve Bank released the web publication ‘Deposits with Scheduled Commercial Banks¹ – September 2024² ’ on its ‘Database on Indian Economy’ portal³ (https://data.rbi.org.in Homepage > Publications).

Scheduled commercial banks (SCBs) {excluding regional rural banks (RRBs)} report branch-wise data on type of deposits (current, savings and term), its institutional sector wise ownership, age wise distribution of deposits pertaining to individuals, maturity pattern, size and interest rate range wise distribution of term deposits as well as number of employees in the quarterly ‘Basic Statistical Return’ (BSR) - 2 return. These data are released at disaggregated level (viz., population groups ⁴, bank groups, states, districts and centres).

Highlights:

Bank deposits growth (y-o-y) at 11.7 per cent in September 2024 remained close to that in the previous quarter.

Deposits of all population groups (viz., rural/semi-urban/urban/metropolitan) recorded double-digit annual growth; during Q2:2024-25, 66.5 per cent of the total incremental deposits contributed by the metropolitan branches, which have 54.7 per cent share in total deposits.

Of the total deposits, 51.4 per cent was held by individuals; female depositors owned nearly 40 per cent of the deposits by individuals.

A substantial amount of deposits have shifted to higher interest rate bucket during the latest monetary policy tightening cycle; term deposits bearing over 7 per cent interest rate has increased to 68.8 per cent from 54.7 per cent a year ago and 33.7 per cent in March 2023.

As term deposits offered more attractive return, they also outpaced the growth in CASA (current account and savings account) deposits, and their share in total deposits rose to 61.4 per cent in September 2024 from 59.8 per cent a year ago.

Deposits growth (y-o-y) of public sector banks inched up to 9.0 per cent in September 2024 (8.1 per cent in June 2024), which, however, remained well below that for other bank groups at above 15 per cent.

The share of senior citizens’ deposits increased to 20.1 per cent in September 2024 from 19.7 per cent a year ago.

Ajit Prasad
Deputy General Manager
(Communications)

Press Release: 2024-2025/1589

[1] Aggregate data on bank deposits based on fortnightly Form-A Return (collected under Section 42(2) of the RBI Act, 1934) for the last reporting Friday of September 2024 have been published earlier at our website (https://rbi.org.in/ Home>Statistics>Data Release>Fortnightly>Scheduled Bank's Statement of Position in India).

[2] Reference date for BSR-2 is last day of the quarter. The figures pertaining to previous rounds include the impact of merger of a non-bank with a bank with effect from July 1, 2023.

[3] Previous data release in the quarterly series, covering end-June 2024 position, was published on August 30, 2024 on RBI website.

[4] Population group criteria used for BSR is based on population size of respective revenue centre, as per the population census of 2011, where branches of SCBs are operating and classified as: a) 'Rural' (population less than 10,000), b) 'Semi-urban' (population of 10,000 to less than 1 lakh), c) 'Urban' (population of 1 lakh to less than 10 lakhs), d) 'Metropolitan' (population of 10 lakhs and above).