MIL-OSI Economics: Quarterly BSR-2: Deposits with Scheduled Commercial Banks – December 2023

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Source: Reserve Bank of India

Today, the Reserve Bank released the web publication ‘Deposits with Scheduled Commercial Banks – December 2023’ on its ‘Database on Indian Economy’ portal3 (https://dbie.rbi.org.in Homepage > Publications).

Scheduled commercial banks (SCBs) {excluding regional rural banks (RRBs)} report branch-wise data on type of deposits (current, savings and term), its institutional sector wise ownership, age wise distribution of deposits pertaining to individuals, maturity pattern of term deposits as well as number of employees in the quarterly Basic Statistical Return (BSR) -2 survey. These data are released at disaggregated level (viz., type of deposits, population groups4, bank groups, states, districts, centres, interest rate ranges, size, original and residual maturity).

Highlights:

  • Rising return on term deposits has been driving the compositional shift in bank deposits: the share of term deposits in total deposits increased to 60.3 per cent in December 2023 from 57.2 per cent in March 2023.

  • On an incremental basis, term deposits accounted for nearly 97.6 per cent of the total deposits during April-December 2023 and the shares of current account and savings account (CASA) deposits went down.

  • Rural and semi-urban branches together accounted for 67.2 per cent of incremental CASA deposits, whereas their combined share in total term deposits during October-December 2023 was much lower at 21.7 per cent.

  • Deposits moved to higher interest rate buckets: the share of term deposits bearing over 7 per cent interest rate rose to 61.4 per cent of the total term deposits in December 2023 from 54.7 per cent a quarter ago and 33.7 per cent in March 2023.

  • Nearly two thirds of the incremental term deposits during October-December 2023 were of the size ‘₹1 lakh to less than ₹1 crore’ – the corresponding share in the previous quarter was 46.5 per cent.

  • Female customers made significant contribution in deposit accretion: their shares in incremental CASA, term and total deposits during October-December 2023 were 63.4 per cent, 36.1 per cent and 40.1 per cent, respectively. Their share in total deposits increased to 20.6 per cent in December 2023 from 20.2 per cent in September 2023.

  • Senior citizens held 20.1 per cent of the total deposits in December 2023.

Ajit Prasad           
Director (Communications)

Press Release: 2023-2024/1972


1 Aggregate data on bank deposits based on fortnightly Form-A Return (collected under Section 42(2) of the RBI Act, 1934) for the last reporting Friday of December 2023 have been published earlier at our website (Home>Statistics>Data Release>Fortnightly>Scheduled Bank’s Statement of Position in India).

2 Reference date for BSR-2 is last day of the quarter. These data include the impact of merger of a non-bank with a bank with effect from July 1, 2023.

3 Previous data release in the series, covering end-September 2023 position, was published on December 1, 2023 on RBI website.

4 Population group criteria used for BSR is based on population size of respective revenue centre, as per census 2011, where branches of SCBs are operating and classified as: a) ‘Rural’ (population less than 10,000), b) ‘Semi-urban’ (population of 10,000 to less than 1 lakh), c) ‘Urban’ (population of 1 lakh to less than 10 lakhs), d) ‘Metropolitan’ (population of 10 lakhs and above).

MIL OSI Economics