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SBI Report Calls Deposit Concerns A 'Statistical Myth'

The Business Guardian

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August 20, 2024

As Finance Minister Nirmala Sitharaman holds a review meeting with heads of Public Sector Banks and Regional Rural Banks on Monday, the State Bank of India (SBI) in its latest report noted that the belief that the deposit growth in the banking sector is flagging is just a statistical myth.

SBI Report Calls Deposit Concerns A 'Statistical Myth'

However, the report highlighted that, while it’s true that credit growth has outpaced deposit growth in recent years, leading some to trumpet this as a sign of decelerating deposit activity, a deeper analysis reveals a different story.

The report highlighted that in FY23, the banking sector, particularly All Scheduled Commercial Banks (ASCBs), registered the highest absolute growth in both deposits and credit since 1951-52.

Deposits grew by an impressive Rs 15.7 lakh crore, while credit expanded by Rs 17.8 lakh crore, pushing the incremental Credit-Deposit (CD) Ratio to a staggering 113 per cent. The momentum continued into FY24, with deposits rising by Rs 24.3 lakh crore and credit by Rs 27.5 lakh crore.

Despite the narrative suggesting a slowdown in deposit growth, the data tells us otherwise. Since FY22, incremental deposit growth has actually outpaced incremental credit growth, with deposits increasing by Rs 61 trillion compared to Rs 59 trillion in credit.

MEER VERHALEN VAN The Business Guardian

The Business Guardian

The Business Guardian

GST cuts boost consumer demand on Navratri Day 1

GST 2.0 appears to have delivered instant relief and sparked consumer joy from the very first day, reducing household expenses, reviving demand across industries, and igniting the festive season with record-breaking sales.From cars and electronics to groceries and fashion, every sector felt the surge. It was sort of a festival of savings, a boost to demand, and the real Diwali gift to the people of India.

time to read

2 mins

September 24, 2025

The Business Guardian

The Business Guardian

Crompton launches DURA series submersible pumps

When it comes to water supply, consumers look for solutions they can trust - especially for high-value, long-term investments like submersible pumps.

time to read

2 mins

September 24, 2025

The Business Guardian

The Business Guardian

Oil India Chief pushes Global asset buys for Mineral Security

Ranjit Rath, Chairman and Managing Director of Oil India Limited (OIL) and the current Hydrocarbon Chair of CII, has emphasised the strategic importance of overseas asset acquisition in the critical minerals space, underlining its role in India's energy security and green transition goals.

time to read

1 min

September 24, 2025

The Business Guardian

The Business Guardian

Power equipment stocks rise on Nvidia's Data Center Plan

The stocks of power equipment makers rose Tuesday morning following Nvidia Corp.'s announcement of a massive investment plan for data centers, as per a report by Pulse, the English service of Maeil Business Newspaper Korea.

time to read

1 min

September 24, 2025

The Business Guardian

The Business Guardian

SCHOOLING WOMEN: LESSONS AT HOME, VOICES OUTSIDE — EDUCATION’S RISE FROM ZENANA T0 ASSEMBLY

Not a one-way crossing but a two-way circulation: household skills—thrift, hygiene, record-keeping—scaled into public reform, while exams and magazines brought civic habits back home. The “good wife” became budget-maker and petition-signer; the school learned the idioms of cleanliness and care. Separate spheres, in practice, taught each other.

time to read

10 mins

September 24, 2025

The Business Guardian

The Business Guardian

Nitish launches projects worth Rs 1,826 cr in Bihar’s East, West Champaran districts

Bihar Chief Minister Nitish Kumar on Tuesday launched projects worth more than Rs 1,826 crore in Westand East Champaran districts.

time to read

1 min

September 24, 2025

The Business Guardian

The Business Guardian

CM Gupta flags Off Delhi-Baraut inter-state AC electric bus service

Delhi Chief Minister Rekha Gupta on Tuesday flagged off the fully-electric Delhi-Baraut Inter-State AC Bus Service from Maharana Pratap ISBT, signaling the revival of Delhi’ interstate bus services after a gap of nearly 18 years.

time to read

1 mins

September 24, 2025

The Business Guardian

The Business Guardian

TAMIL NADU PLANS SOUTH ASIAN RENEWABLE ENERGY CORRIDOR: MINISTER

Tamil Nadu has unveiled plans to position itself as the hub of a South Asian Renewable Energy Corridor, driving regional clean energy collaboration and expansion.

time to read

2 mins

September 24, 2025

The Business Guardian

The Business Guardian

Heavy rains batter Maha, NDRF rescues over 300 people in Marathwada districts

‘The Continuous heavy rainfall across several districts of Maharashtra has led to a flood-like situation, prompting the deployment of the National Disaster Response Force (NDRF) in Beed, Dharashiv, and Solapur districts.

time to read

1 min

September 24, 2025

The Business Guardian

The Business Guardian

Rahul Gandhi urges PM to announce Punjab Flood relief package

Congress leader Rahul Gandhi on Monday again urged Prime Minister Narendra Modi to immediately announce a comprehensive relief package for Punjab following devastation caused by floods in the state.The Congress leader, who had written a letter to PM Modi earlier, said Punjab has suffered losses of “nearly Rs 20,000 crore” due to the floods, and the initial relief package of Rs 1600 crore announced by PM Modi is an “injustice” to the people of Punjab.”

time to read

1 min

September 24, 2025

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