Today, the Reserve Bank released¹ the web publication ‘Deposits with Scheduled Commercial Banks² – March 2024³’ on its ‘Database on Indian Economy’ portal⁴ (https://dbie.rbi.org.in Homepage > Publications).

Scheduled commercial banks (SCBs) {including 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 of term deposits as well as number of employees in the annual ‘Basic Statistical Return’ (BSR) - 2 return. These data are released at disaggregated level (viz., type of deposits, population groups⁵, bank groups, states, districts, centres, interest rate ranges, size, original and residual maturity).

Highlights:

• Bank deposits increased (y-o-y) by 13.0 per cent, net of merger (13.5 per cent including the impact of merger) during 2023-24 as compared to 10.2 per cent growth in the previous year; deposits of all population groups (viz., rural, semi-urban, urban and metropolitan) accelerated in the latest year.

• Household sector⁶ remained the largest group of depositors with 61.1 per cent share; female depositors within this sector held 20.7 per cent of total deposits of SCBs in March 2024.

• More attractive return resulted in very high share (78.5 per cent) of incremental deposits accruing under term deposits during 2023-24; term deposits bearing six per cent and above interest rate accounted for 86.6 per cent of total term deposits (outstanding) in March 2024 as compared with 61.1 per cent share one year ago and 14.4 per cent share two years ago.

• Current, savings and term deposits accounted for 9.8 per cent, 30.8 per cent and 59.4 per cent, respectively, of total deposits in March 2024.

• During 2023-24, 79.1 per cent of the rise in term deposits were mobilised in the maturity bucket of one to three years; this category accounted for nearly two thirds of outstanding term deposits at year-end.

Ajit Prasad          
Deputy General Manager
(Communications)    

Press Release: 2024-2025/440

¹ Quarterly publication for March 2024 encompassing all SCBs excluding RRBs is also released with this annual BSR-2 March 2024 (https://dbie.rbi.org.in Homepage > Publications).

² 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 March 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).

³ 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.

⁴ Previous data release in the annual series, covering end-March 2023 position, was published on June 9, 2023 on RBI website.

⁵ 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).

⁶ Household sector includes individuals, proprietary concerns, Hindu undivided families (HUFs) and partnership firms among others.