Question

In what ways does the public sector supports the private sector?

Answer 1

Growth in Banking Sector DepositsDuring FY06–17, deposits grew at a CAGR of 12.03 per cent and reached 1.54 trillion by FY171.Strong growth in savings amid rising disposable income levels are the major factors influencing deposit growth.Access to banking system has also improved over the years due to persistent government efforts to promote banking-technology and promote expansion in unbanked and non-metropolitan regions.At the same time India’s banking sector has remained stable despite global upheavals, thereby retaining public confidence over the years.Deposits under Pradhan Mantri Jan Dhan Yojana (PMJDY), have also increased. As on November 9, 2016, US$ 6,971.68 million were deposited, while 255.1 million accounts were opened