Bank Deposits Dive as Banks Play with Foreign Currency Funds

Hold onto your hats! In the latest banking twist, deposits plunged by ₹6,534 crore and credit dropped by ₹70,639 crore, according to the RBI. But don’t fret! Yearly, deposits are still up 14.7% and loans up 18.3%. Banks are just playing musical chairs with their money, focusing on those attractive foreign currency deposits. It’s a bit of a shuffle, but no need to panic just yet!