Indian bank deposits hit record ₹284 trillion in September

India’s bank deposits reached a record ₹284 trillion, or nearly $3 trillion, in September 2026. Deposits grew by ₹21.67 trillion in the first half of FY27, supported by an RBI foreign currency swap scheme that attracted around $133 billion in inflows. Quarter-end deposits also contributed to the increase, while banks continue to manage funding costs and credit growth.