People are investing more in Bank Fixed deposits

 

The amount deposited in the country’s banks has doubled in seven years. Bank deposits have crossed Rs 200 lakh crore for the first time. This shows that despite 5-6 percent interest, people still have confidence in depositing money in banks.

According to RBI data, the total amount deposited in banks in September 2016 was Rs 100 lakh crore. It has registered an increase of 9.5 percent on annual basis. This is the figure of money deposited in Indian banks reaching Rs 100 lakh crore in the shortest time. By December 29, 2023, the figure of bank deposits reached Rs 200.8 lakh crore.