How is India Depositing in 2023?
Total Deposit vs Per Capita Deposit
States with
higher populations
and economic activity have
higher total deposits
but
low per capita deposits
because of the higher population.
Deposits are Directly Related to Economic Activity
Wealth concentrates where economic activity happens. The
top 10 districts hold over 40% of India's total deposits
!
Metros Have Higher Individual Deposits
Many corporations are set up in metros, which skews the data, but almost
40% of individual deposits come from metros
.
Higher Individual Deposits
Individual deposits
increased from ₹93 lakh crores to ₹100 lakh crores
. Individual term deposits increased from ₹46 lakh crores to ₹51 lakh crores.
Higher Deposits With Publi
c Sector Banks
Most individual deposits are with public sector banks.
More branches and higher trust
might be possible reasons.
Private sector banks have a relatively high share in metro areas
due to corporate clientele
.
More Corporate Deposits in Private Sector Banks
Which Age Group Holds the Most FDs?
More than
80%
of individual FDs are made by individuals
above 40 years of age
.
How Much are People Earning on Their FDs?
Up to
40% of FDs earn less than 6%
interest. Post-tax, the returns would be even lower.
FD Tenures Have Increased in 2023
Short-term FD tenures have increased to the
1-3 years
bucket
. It’s expected to increase further in FY24.
Longer FD Tenures in Rural Areas
In rural areas,
FDs mean investing for the future
, so
the tenure is slightly longer.
Shorter FD Tenures in Cities
Corporations & higher-income individuals use FDS to park money in metropolitan areas.
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