RBI says aggregate deposits increase by 11% in December 2024

Reserve Bank of India or RBI stated in a latest update that aggregate deposits increased by 11.0 per cent in December 2024 as compared with 11.7 per cent growth a quarter ago. Term deposits rose by 14.3 per cent (y-o-y) as compared with 5.1 per cent growth in saving deposits in December 2024; as a result, the share of term deposits in total deposits rose to 62.1 per cent from 60.3 per cent a year ago. The share of deposits bearing seven per cent or above interest rate in total term deposits increased to 70.8 per cent in December 2024 from 61.4 per cent a year ago. With rise in return on term deposits, nearly 79.8 per cent of the incremental term deposits mobilized during April-December 2024 were held in the original maturity bucket of one to three years; on an outstanding basis, over two third of term deposits were in this maturity bucket and another 11 per cent had higher original maturity. During April-December 2024, 56.1 per cent of the total term deposits were of size Rs. one crore and above.Senior citizens owned 20.2 per cent of the total deposits in December 2024.

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