 "Indian Rupee")
The share of low-cost money in total deposits continued to take a knock at the close of FY23 as banks engaged in intense competition by offering higher interest rates on term money to garner funds amid tight liquidity conditions.
The share of current accounts and saving accounts (CASA) in total deposits declined by 2-4 per cent by end of March 2023 from March 2022 figure, according to BSE filings by private banks.
The ease of movement of funds on digital platforms and the deployment of money by businesses from current accounts also played a role in dwindling the share of
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