Deposits with Scheduled Commercial Banks Grew Marginally by 10.2% in FY23: RBI Data
Published on: Monday 12 June 2023
Deposits with scheduled commercial banks (SCBs) across the country has grown by 10.2% in 2022-23 as against 10% in the financial year 2021-22, according to the data released by the Reserve Bank of India. Since May 22, the RBI has hiked repo rate, the rate at which it lends money to banks, by 250 basis points (bps) to control inflation. Deposits with senior citizens contributed to about one fifth of the total deposits as on March 2023. Their...
