Deposits with Scheduled Commercial Banks – March 2021

Today, the Reserve Bank released the web publication ‘Deposits with Scheduled Commercial Banks – March 2021’ on its Database on Indian Economy (DBIE) portal (web-link:!18).

Scheduled Commercial Banks (SCBs) (including Regional Rural Banks and Small Finance banks) report data on type of deposits (current, savings and term), its institutional sector wise ownership, maturity pattern of term deposits as well as number of employees under Basic Statistical Return (BSR) -2 survey2. These data are released at disaggregated level (viz., type of deposits, population groups, bank groups, states, districts, centres, interest rate ranges, size, original and residual maturities).


  • Bank deposits grew (y-o-y) by 11.9 per cent during the 2020-21 (8.8 per cent in the previous year) on the back of high growth in current account and savings account (CASA) deposits; the share of CASA deposits increased to 43.7 per cent in March 2021 (41.7 per cent a year ago).

  • Among institutional categories, the household sector held 64.1 per cent share in total deposits; individuals {including Hindu Undivided Families (HUFs)}, were the major constituent of the household sector and contributed 55.8 per cent in aggregate deposits.

  • Bank deposits of non-financial corporations surged by 18.8 percent during 2020-21 and their share in total deposits increased to 16.2 percent in March-2021.

  • Metropolitan branches of banks, which account for over half of total deposits, accounted for 59.6 per cent of incremental deposits during 2020-21 (43.2 per cent last year).

  • Three major states (Maharashtra, UP and Karnataka) held one-third of total household sectors’ outstanding deposits and over 40 per cent of its incremental deposits during 2020-21.

  • Share of private sector banks in total bank deposits continued to rise at the cost of public sector banks and stood at 30.5 per cent (29.5 per cent a year ago), accounting for about half of the deposits of financial and non-financial corporations as well as rest of the world sectors.

  • With the downward shift in the interest rates on term deposits, the share of term deposits carrying less than 6 per cent interest rate surged to 69.0 per cent in March 2021 from 21.3 per cent a year ago; the interest rate bracket ‘5 to less than 6 per cent had highest concentration (36.8 per cent) of total term deposits.

  • Majority of term deposits were originally contracted for ‘one year to less than three years’ maturity.

  • The share of short-term deposits (original maturity of less than one-year) rose to 32.8 per cent (25.4 per cent a year ago); in terms of residual maturity, 75.7 per cent of the term deposits were due for maturity within one year.

Ajit Prasad

Press Release: 2021-2022/916