In what could be a sign of improved reach of banking services across the country, the shave of households in total deposits with scheduled commercial banks (SCBs) climbed to 61.5 per cent as on March-end 2016, from 60.1 per cent as on March-end 2015.
Household sector deposits include those by individuals (farmers, businessmen, traders, professionals & self-employed, and wage and salary earners), trusts, associations & clubs, proprietary and partnership concerns, educational and religious institutions, and self-help groups.
Inflows into the Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts are also reflected under the household sector deposits.
As of March-end 2016, total deposits with SCBs rose 10 per cent year-on-year to ₹98,41,290 crore as against ₹89,72,714 crore as of March-end 2015, according to RBI data.
Total deposits include deposits placed with banks by the government sector, private corporate sector (non-financial), financial sector, household sector and foreign sector.
The government sector’s deposits as a percentage of total deposits with SCBs declined to 12.8 per cent (from 14.4 per cent as at March-end 2015).
The government sector includes Central and State governments, local authorities, quasi-govenrment bodies, and public sector corporations and companies.
The private corporate sector's deposits as a percentage of total deposits with SCBs nudged up to 10.8 per cent (from 10.1 per cent as at March-end 2015).
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.