Where the other private sector banks facing the share of low cost current account and saving account (Casa) deposits grow in their deposit pool, in the same period the second largest private sector lender HDFC bank facing the largest fall in casa deposits.
By the end of March 2013, casa ratio in total deposits was at 47.4 percent, and in the next its fall to 45% (September 2013). The ratio declined by the end of March 2014 is 44.8%. Now this result can be seen with the most downfall 43.2% by the end of September quarter 2014
Chief Officer financial officer HDFC, Sashi jagdishan said, “The interest rate for fixed deposits have continued to remain elevated in the range of 8.5-9.5 per cent for the last two three years, whereas savings bank rate have continued to be 4 per cent of majority of the banking system. Therefore, whenever there is a high gap between the two rates invariably there will be migration of funds from savings account to FDs.”
While an analyst of foreign brokerage house said, “The bank had continued to enjoy casa ratio of close to 50 per cent during 2010-12 but it will be difficult to go back to that level now as the total size of the deposits have grown and competition has also increased.”
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