Bank deposits surged by Rs. 3.82 lakh crore in the last fortnight of third quarter

Bank deposits surged by Rs. 3.82 lakh crore in the last fortnight of third quarter

Deposits of all scheduled banks collectively surged by a whopping Rs. 3.82 lakh crore in the fortnight ended December 30, 2022, even as their advances grew moderately at Rs. 1.53 lakh crore, according to RBI’s Scheduled Banks’ Statement of Position in India.

A break-up of the deposits accretion during the reporting fortnight shows that time deposits and demand deposits rose by Rs. 2.13 lakh crore and Rs. 1.68 lakh crore  respectively.