They are also planning to offer lucrative deals with salary as well as women accounts to increase their deposit growth.
Business Standard spoke to four senior bankers from state-owned banks.
One of them said, "To enhance deposits, we have started exploring sectors like healthcare and housing societies, which were previously unexplored. Many banks, including ours, have introduced fixed deposit (FD) schemes such as the 444-day FD with attractive rates, which are helping us increase deposits," said the first senior bank official.
Addressing the media after the Reserve Bank of India (RBI) board meeting on Saturday, Finance Minister Nirmala Sitharaman urged banks to develop innovative and attractive schemes to mobilise deposits.
She said that deposits and lending are the two wheels of a cart and that "deposit growth is moving slowly."
She emphasised that banks need to focus on core banking activities, which include mobilising deposits and lending to those in need of funds.
Denne historien er fra August 17, 2024-utgaven av Business Standard.
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Denne historien er fra August 17, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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