InvestorQ : How has the growth in deposit base of the private banks been in the March quarter, especially banks like HDFC Bank, RBL and IndusInd Bank?
Rutuja Nigam made post

How has the growth in deposit base of the private banks been in the March quarter, especially banks like HDFC Bank, RBL and IndusInd Bank?

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Arti Chavan answered.
6 months ago
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For the month of March 2020, the experience has been fairly mixed. HDFC Bank, the largest private sector bank has continued to see growth in most of the business parameters. For example, the aggregate deposits of HDFC Bank grew by 7.4% to Rs.11,46,000 crore. The total advances also grew by 6% to Rs.9,93,000 crore. Despite the growth pressures and the concerns over the lockdown due to COVID-19, HDFC bank has managed to show growth in deposits and loans for the fiscal year. However, other banks have not been too lucky. For example, IndusInd Banka and RBL Bank reported shrinkage in deposits after some of the large governments opted to withdraw their deposits from these banks. This panic among smaller private banks has become extremely acute after the Yes Bank crisis.

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