BANKS' continuous efforts to mobilise deposits are finally bearing fruit with the funds mobilsed during the last fortnight of May overshooting the loans provided to customers in absolute terms. Deposits totalled at 2.7 trillion (₹2.7 lakh cr) as against credit offtake totalling at 1.7 trillion, something that has been the opposite in over two years.
Banks have been chasing deposits with attractive pricing as the people were parking their money in stocks and mutual funds which have been offering more returns. Leading banks have increased their deposit pricing many times in the past a few quarters as there were more demand for credit.
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Harmanpreet & Co seek quick turnaround against Pakistan
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