Downward trend in growth of bank deposits – RBI Information
Posted on: 13/Nov/2014 4:42:12 PM
The Reserve Bank of India has revealed the statistics that the growth of deposit in October has shown a fall, for the first time in the last one year.
In the 2 weeks following 31st October, the growth of bank deposits went down by 12% to Rs. 82.77 Lakh Crores.
The total amount of loans extended by the banks is Rs. 62.72 Lakh Crores.
With the reduction in the demand for loans, the decision of the banks to reduce the deposit interest rates is attributed to be the main reason for the reduction in growth of bank
