Deposits of top eight private banks including HDFC Bank and ICICI Bank increased by Rs 2.68 lakh crore, higher than the Rs 2.58 lakh crore increase in deposits in the top eight state-owned banks. The eight private banks whose deposits have been counted are: HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, IndusInd Bank, Federal Bank, Bandhan Bank and IDFC First Bank. The state-owned banks counted are: SBI, PNB, Bank of Baroda, Canara Bank, Bank of India, Union Bank of India, Indian Overseas Bank and Oriental Bank of Commerce. Among the private sector banks, too, HDFC Bank took the lion’s share followed by ICICI Bank and Axis Bank. While HDFC Bank added Rs 1.12 lakh crore, ICICI Bank and Axis Bank added Rs 55,613 crore and Rs 50,998 crore respectively during the six-month period July-December 2019.

Source: Indian Express February 19, 2020 23:14 UTC