Diabytes
Bank deposit News
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SBI attributed the fall in deposits to the varied rates of return offered by different investment options for similar time frames and different tax rates on returns on deposits.
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The bank's gross advances increased by 12 per cent to Rs 5.40 lakh crore in the April-June quarter compared to Rs 4.8 lakh crore in the same quarter last year.
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The agency said bank credit growth is likely to increase in FY22, given the growth in the economy and the base effect coming into play.
The downside risks include lockdowns in key states, which may impact the industrial as well as the service segments.
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People often find it difficult to choose between liquid funds and savings account in terms of accumulating their funds.
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Here are banks in India that give you maximum interest on savings account. Check out the list.
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Bank credit grew at a slower rate of 9.8 percent and deposit growth rate slowed down to 10.7 percent in the March quarter, says RBI data.
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