Indian Bank Deposits Reach Record 3 Trillion
Indian banking system deposits reached a record high of nearly three trillion dollars in late September. The increase was boosted by a special dollar deposits scheme and aggressive funding efforts by lenders before the end of the quarter.
India's banking system deposits reached a record $2.99 trillion in late September, driven by foreign-currency inflows. Total deposits rose by 21.67 trillion rupees during the first half of the financial year. The milestone reflects aggressive fundraising by lenders facing credit growth that outpaces domestic deposit generation.
