Term deposits outpace CASA growth in Sept
Millennium Post Delhi|New Delhi 27November2024
Term deposits, which offer more attractive return, outpaced the growth in CASA (current account and savings account), and their share in total deposits rose to 61.4 per cent in September 2024 from 59.8 per cent a year ago, as per RBI data.

The Reserve Bank on Tuesday released Quarterly 'Basic Statistical Return' (BSR): Deposits with Scheduled Commercial Banks - September 2024.

"A substantial amount of deposits have shifted to higher interest rate bucket during the latest monetary policy tightening cycle; term deposits bearing over 7 per cent interest rate has increased to 68.8 per cent from 54.7 per cent a year ago," it said.

As per the BSR, bank deposits growth (y-o-y) at 11.7 per cent in September 2024 remained close to that in the previous quarter.

Deposits of all population groups (rural/semi-urban/urban/metropolitan) recorded double-digit annual growth.

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