Today, the Reserve Bank released the web publication ‘Deposits with Scheduled Commercial Banks¹ – June 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 groups⁴ , bank groups, states, districts and centres).    

Highlights:

• Bank deposits growth (y-o-y) moderated to 11.7 per cent, net of merger (12.2 per cent including the impact of merger) in June 2024 from 13.1 per cent (13.7 per cent) a quarter ago.
• Consistent with rising return on term deposits, there has been higher accrual to this deposit category and share of savings deposits in total deposits has come down to 29.8 per cent in June 2024 from 30.1 per cent a quarter ago and 31.8 per cent a year ago.
• The share of deposits bearing 7 per cent and above interest rate has risen to 66.9 per cent in June 2024 from 45.4 per cent a year ago.
• Over two-thirds of the term deposits accrued in the original maturity category of one to three years tenor; on incremental basis during Q1: FY 2024-25, 90.9 per cent of term deposits were in the maturity bucket of ‘1 year & above but less than 3 years’.
• Current account deposit balances came down to 9.1 per cent of total deposits in June 2024 from 9.6 per cent a year ago; the decline in both current and savings deposits was observed across all population groups (i.e., rural, semi-urban, urban and metropolitan).
• The share of females in the household sector in total deposits has been gradually rising and stood at 20.6 per cent in June 2024 (20.3 per cent a year ago).

Ajit Prasad            
Deputy General Manager
(Communications)     

Press Release: 2024-2025/1015

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 June 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. These data 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-March 2024 position, was published on June 4, 2024 on RBI website.

⁴ Population group criteria used for BSR is based on population size of respective revenue centre, as per census 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).