SBI MD suggests market corrections may boost bank deposits by attracting funds from equities.

SBI MD Ashwini Kumar Tewari suggests that market corrections in equities could result in a return of funds to banks, potentially boosting deposits. SBI is focusing on raising deposit rates, small-value accounts, and leveraging the government's Jan Dhan scheme to grow deposits. Tewari highlights the importance of retail deposits for stability, as SBI's advances rose 15% YoY in Q1FY25 and total deposits increased 8% YoY.

August 28, 2024
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