Deposits In Banks

Worse still, Casa deposits' share of incremental deposits has fallen to single digit (6.7%), for the second time in 10 years

The Reserve Bank on Thursday announced to set up a centralised portal to access details of unclaimed deposits by depositors or their beneficiaries across various banks. About Rs 35,000 crore unclaimed deposits as of February 2023 were transferred to RBI by public sector banks (PSBs) in respect of deposits which were not operated for 10 years or more. In order to improve and widen the access of depositors or beneficiaries, it has been decided to develop a web portal to enable search across multiple banks for possible unclaimed deposits, RBI Governor Shaktikanta Das said while announcing the first bi-monthly monetary policy for current financial year 2023-24. State Bank of India (SBI) tops the chart of unclaimed deposits worth Rs 8,086 crore followed by Punjab National Bank Rs 5,340 crore, Canara Bank Rs 4,558 crore and Bank of Baroda Rs 3,904 crore.

Deposits at small banks fell $119 billion to $5.46 trillion in the week ended March 15

The inflows offer a first glimpse into deluge of deposits that made its way to the country's largest banks as customers fearful of a spreading crisis sought refuge in the firms seen as too big to fail

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JPMorgan Chase & Co., the largest US bank, alone received billions of dollars in recent days, and Bank of America Corp., Citigroup Inc. and Wells Fargo & Co. are also seeing higher-than-usual volume

Banks have made a beeline to increase rates on their deposits as liquidity in the system has tightened and the credit growth in the system has remained consistently high

It is leveraging the digital ecosystem, focusing on acquisition of corporate salary accounts, and also cross-selling products to existing clients

Country's largest lender State Bank of India (SBI) raised deposit rates by 15-100bps, the maximum increase being for bulk deposits

The revised rates will be effective from December 12

Hike rates after credit growth expands 15.3%

Outstanding deposits declined to $135.9 billion at the end of June 2022 from $141.5 billion a year ago.

Loan growth in India is at a 3-year high and seen inching up further as economic activity gains traction but a much slower growth in deposits could send banks scurrying for funds

In Q1, South Indian Bank's gross advances saw a growth of 10.95 per cent compared to the same period last financial year

Development fuels concern that slow deposit growth could emerge as one of the biggest constraints for loan growth in the system

To sensitise its customers against high-value cheque frauds, Punjab National Bank urged them to submit details about cheques at least a day before clearance under Positive Pay System (PPS) framework.

Your bank will bear limited liability for the contents of your locker, so buy insurance

The numbers are up to the fortnight ended January 15

Should deposit growth continue to outpace credit growth, banks may end up ceding some hard-earned 25-50 bps improvement in profitability or net interest margin gained in the past two years

On an year-on-year (YoY) basis, non-food bank credit growth was at 6.7 per cent in June 2020