Lenders expect spurt in digital lending, deposit mobilisation in 5 years

44% of them expect to collect more than 50% of deposits through online modes

Banks’ deposit mobilisation and credit disbursal through digital modes will see exponential growth, says a survey by the Reserve Bank of India (RBI).

According to the survey conducted in March 2024 and covering 25 banks and 68 non-banking financial companies (NBFCs), banks mobilise only a small portion of their deposits through digital mode but the importance of this channel is perceived to be increasing rapidly. In five years, 44 per cent of them expect to collect more than 50 per cent of deposits through online modes. On the credit side, about three-fourth of the surveyed banks are