Banks 2018-19 savings deposits up at Rs 39.72 lakh crore: RBI

TIL Desk/Business/Mumbai/ Indian private and public sector banks (PSBs) had aggregate savings deposits of Rs 39.72 lakh crore as on March 31, 2019, while foreign banks had a share of Rs 58,630 crore, according to RBI data published in the Handbook of Statistics on Indian Economy 2018-19.

The total savings deposits with commercial banks, including foreign ones, in 2018-19 stood at Rs 40.31 lakh crore, up from Rs 36.55 lakh crore in 2017-18, the data showed. The savings deposits with Indian banks stood at Rs 35.99 lakh crore in 2017-18, the Reserve Bank of India (RBI) said, while it stood at Rs 55,896 crore for foreign banks in the same fiscal.

As at the end of the first quarter ending June, the PSB’s credit growth was up 8.7 per cent, while the aggregate deposits growth was 6.7 per cent. The foreign banks’ credit growth was 5.4 per cent and the aggregate deposits growth was 19.3 per cent, according to the quarterly data on deposits and credits of commercial banks released earlier this month.