Most banks have been wooing savers by raising the interest rate on deposits, but credit deposit ratios are hitting new highs.
In the December 2023 quarter, for instance, HDFC Bank reported a sharp 62% y-o-y increase in advances, while deposits went up by just 28% y-o-y.
Moreover, with savers parking more money in term deposits, lenders are losing cheaper current account and savings accounts (CASA). At Union Bank of India, the CASA ratio moderated to 34.4% in Q3FY24 from 34.66% in Q2FY24 and 35.35% a year ago. Nidhu Saxena, ED at Union Bank, said there was much competition for CASA."There is a move from CASA to fixed deposits and money has moved from bank deposits to stocks," he said.
Denne historien er fra January 22, 2024-utgaven av Financial Express Mumbai.
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Denne historien er fra January 22, 2024-utgaven av Financial Express Mumbai.
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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