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IMPROVE BANK DEPOSITS BY LOWERING TAX ON FDs
The New Indian Express
|August 21, 2024
THE debate whether bank deposits are growing at a robust pace or not needs to be resolved.
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At a meeting of state-owned banks on Monday, the finance minister once again emphasised the need to mobilise deposits through special drives and better outreach because there is a concern that deposits are growing slower than credit. A mid-year Reserve Bank report said that while bank credit had grown 13.7 percent, deposit growth was struggling at 10.6 percent. On the other hand, an SBI Research study claimed that flagging deposit growth was a 'statistical myth' as it has grown to a robust ₹61 lakh crore since 2021-22, ahead of credit growth of ₹59 lakh crore. In 2022-23, the banking sector registered the highest absolute growth in both d
This story is from the August 21, 2024 edition of The New Indian Express.
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