Share of Casa in overall deposits at 7-year low of 11.6% by FY23-end

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

The share of demand deposits, that is, current account and savings account (Casa) deposits in total deposits, has fallen to 11.6 per cent by the end of the 2022-23 – the lowest in the past seven years.

Worse still, Casa deposits’ share of incremental deposits has fallen to single digit (6.7 per cent), for the second time in 10 years. Commercial banks mobilised Rs 15.8 trillion deposits till the last fortnight of FY23, of which demand deposits were only 1.07 trillion, latest RBI data shows.

This is because interest rates on fixed deposits have been going