Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 73
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 74
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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		&#039;title&#039; =&gt; &#039;Rural term deposits fall for first time in eight years -Vivek Kaul&#039;,
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&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to ₹6.99 trillion from a year earlier&lt;/em&gt;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Every three months, the Reserve Bank of India (RBI) declares region wise data for term deposits. As of 31 March, the total term deposits of commercial banks in India rose 8.42% to ₹86.4 trillion from a year earlier.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Term deposits are money that depositors keep in a bank for a specific period. Fixed deposits and recurring deposits are examples of term deposits.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;While there are no major surprises at the overall level, when we look at the data region-wise &amp;ndash; rural, semi-urban, urban and metropolitan &amp;ndash; a few interesting inferences can be made.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Take a look at the following chart. It plots the total growth/contraction in outstanding term deposits in commercial banks in rural India.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;&amp;nbsp;As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to ₹6.99 trillion from a year earlier. This is the first time in eight years that term deposits in rural India have contracted.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;As can be seen clearly from the graph, the rate of growth in term deposits in rural India has fallen rapidly over the last year. In March 2020, it was at an all-time high of 21.4%, and it has since then come down dramatically.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;A simple explanation for this lies in the negative economic impact that the spread of the Covid pandemic has had on rural India. With lockdowns and curfews in place through a significant part of the year in urban India, economic activity has been negatively impacted. Many people working in India&amp;rsquo;s urban centres send money to their homes in villages. With economic activity having been affected, so must have their incomes and the money they send home. Many people who moved back home from urban to rural India when the pandemic first broke out still haven&amp;rsquo;t returned. This impacted their incomes and, in turn, their savings and possibly explains the contraction in rural savings.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The other possible reason may be that their savings must have depleted because of expenses to treat of covid, given that a large part of the health spending in India is out of pocket. In answer to a question in the Lok Sabha in July 2019, the government said: &amp;ldquo;As per National Health Accounts (NHA) Estimates 2015-16, the household&amp;rsquo;s out of pocket expenditure on health accounts for 60.6% of total health expenditure in the country.&amp;quot;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;In another answer to a question in the Lok Sabha in February 2020, the government pointed out that per capita spending on health in 2016-17 stood at ₹4,381. Of this, the government had spent ₹1,418. This means that in 2016-17, Indians had met more than two-thirds of the health expenses, on average, from their resources. It is safe to assume that this ratio is worse in rural areas, where the health system is substantially weaker.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Of course, this data is for normal times, not for a pandemic year, like the last financial year was. In the pandemic year, health expenditure has gone through the roof for those who have had to incur it, needing them to dip into their savings. This should be another reason behind the contraction in rural savings. It will be interesting to see this data as of 30 June, as and when it is released, given that the worst impact of the second wave of covid was in April and May.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://www.livemint.com/economy/rural-term-deposits-fall-for-first-time-in-eight-years-11624265846577.html&quot;&gt;click here&lt;/a&gt; to read more.&amp;nbsp;&lt;/p&gt;
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As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to ₹6.99 trillion from a year earlier

Every three months, the Reserve Bank of India (RBI) declares region wise data for term deposits. As...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;p style=&quot;text-align:justify&quot;&gt;-Livemint.com&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to 6.99 trillion from a year earlier&lt;/em&gt;&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Every three months, the Reserve Bank of India (RBI) declares region wise data for term deposits. As of 31 March, the total term deposits of commercial banks in India rose 8.42% to 86.4 trillion from a year earlier.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Term deposits are money that depositors keep in a bank for a specific period. Fixed deposits and recurring deposits are examples of term deposits.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;While there are no major surprises at the overall level, when we look at the data region-wise &amp;ndash; rural, semi-urban, urban and metropolitan &amp;ndash; a few interesting inferences can be made.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Take a look at the following chart. It plots the total growth/contraction in outstanding term deposits in commercial banks in rural India.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;&amp;nbsp;As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to 6.99 trillion from a year earlier. This is the first time in eight years that term deposits in rural India have contracted.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;As can be seen clearly from the graph, the rate of growth in term deposits in rural India has fallen rapidly over the last year. In March 2020, it was at an all-time high of 21.4%, and it has since then come down dramatically.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;A simple explanation for this lies in the negative economic impact that the spread of the Covid pandemic has had on rural India. With lockdowns and curfews in place through a significant part of the year in urban India, economic activity has been negatively impacted. Many people working in India&amp;rsquo;s urban centres send money to their homes in villages. With economic activity having been affected, so must have their incomes and the money they send home. Many people who moved back home from urban to rural India when the pandemic first broke out still haven&amp;rsquo;t returned. This impacted their incomes and, in turn, their savings and possibly explains the contraction in rural savings.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The other possible reason may be that their savings must have depleted because of expenses to treat of covid, given that a large part of the health spending in India is out of pocket. In answer to a question in the Lok Sabha in July 2019, the government said: &amp;ldquo;As per National Health Accounts (NHA) Estimates 2015-16, the household&amp;rsquo;s out of pocket expenditure on health accounts for 60.6% of total health expenditure in the country.&amp;quot;&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;In another answer to a question in the Lok Sabha in February 2020, the government pointed out that per capita spending on health in 2016-17 stood at 4,381. Of this, the government had spent 1,418. This means that in 2016-17, Indians had met more than two-thirds of the health expenses, on average, from their resources. It is safe to assume that this ratio is worse in rural areas, where the health system is substantially weaker.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Of course, this data is for normal times, not for a pandemic year, like the last financial year was. In the pandemic year, health expenditure has gone through the roof for those who have had to incur it, needing them to dip into their savings. This should be another reason behind the contraction in rural savings. It will be interesting to see this data as of 30 June, as and when it is released, given that the worst impact of the second wave of covid was in April and May.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://www.livemint.com/economy/rural-term-deposits-fall-for-first-time-in-eight-years-11624265846577.html&quot; title=&quot;https://www.livemint.com/economy/rural-term-deposits-fall-for-first-time-in-eight-years-11624265846577.html&quot;&gt;click here&lt;/a&gt; to read more.&amp;nbsp;&lt;/p&gt;&#039;,
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&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to ₹6.99 trillion from a year earlier&lt;/em&gt;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Every three months, the Reserve Bank of India (RBI) declares region wise data for term deposits. As of 31 March, the total term deposits of commercial banks in India rose 8.42% to ₹86.4 trillion from a year earlier.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Term deposits are money that depositors keep in a bank for a specific period. Fixed deposits and recurring deposits are examples of term deposits.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;While there are no major surprises at the overall level, when we look at the data region-wise &amp;ndash; rural, semi-urban, urban and metropolitan &amp;ndash; a few interesting inferences can be made.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Take a look at the following chart. It plots the total growth/contraction in outstanding term deposits in commercial banks in rural India.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;&amp;nbsp;As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to ₹6.99 trillion from a year earlier. This is the first time in eight years that term deposits in rural India have contracted.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;As can be seen clearly from the graph, the rate of growth in term deposits in rural India has fallen rapidly over the last year. In March 2020, it was at an all-time high of 21.4%, and it has since then come down dramatically.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;A simple explanation for this lies in the negative economic impact that the spread of the Covid pandemic has had on rural India. With lockdowns and curfews in place through a significant part of the year in urban India, economic activity has been negatively impacted. Many people working in India&amp;rsquo;s urban centres send money to their homes in villages. With economic activity having been affected, so must have their incomes and the money they send home. Many people who moved back home from urban to rural India when the pandemic first broke out still haven&amp;rsquo;t returned. This impacted their incomes and, in turn, their savings and possibly explains the contraction in rural savings.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The other possible reason may be that their savings must have depleted because of expenses to treat of covid, given that a large part of the health spending in India is out of pocket. In answer to a question in the Lok Sabha in July 2019, the government said: &amp;ldquo;As per National Health Accounts (NHA) Estimates 2015-16, the household&amp;rsquo;s out of pocket expenditure on health accounts for 60.6% of total health expenditure in the country.&amp;quot;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;In another answer to a question in the Lok Sabha in February 2020, the government pointed out that per capita spending on health in 2016-17 stood at ₹4,381. Of this, the government had spent ₹1,418. This means that in 2016-17, Indians had met more than two-thirds of the health expenses, on average, from their resources. It is safe to assume that this ratio is worse in rural areas, where the health system is substantially weaker.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Of course, this data is for normal times, not for a pandemic year, like the last financial year was. In the pandemic year, health expenditure has gone through the roof for those who have had to incur it, needing them to dip into their savings. This should be another reason behind the contraction in rural savings. It will be interesting to see this data as of 30 June, as and when it is released, given that the worst impact of the second wave of covid was in April and May.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://www.livemint.com/economy/rural-term-deposits-fall-for-first-time-in-eight-years-11624265846577.html&quot;&gt;click here&lt;/a&gt; to read more.&amp;nbsp;&lt;/p&gt;
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As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to ₹6.99 trillion from a year earlier

Every three months, the Reserve Bank of India (RBI) declares region wise data for term deposits. As...&#039;
$disp = &#039;&lt;p style=&quot;text-align:justify&quot;&gt;-Livemint.com&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to 6.99 trillion from a year earlier&lt;/em&gt;&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Every three months, the Reserve Bank of India (RBI) declares region wise data for term deposits. As of 31 March, the total term deposits of commercial banks in India rose 8.42% to 86.4 trillion from a year earlier.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Term deposits are money that depositors keep in a bank for a specific period. Fixed deposits and recurring deposits are examples of term deposits.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;While there are no major surprises at the overall level, when we look at the data region-wise &amp;ndash; rural, semi-urban, urban and metropolitan &amp;ndash; a few interesting inferences can be made.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Take a look at the following chart. It plots the total growth/contraction in outstanding term deposits in commercial banks in rural India.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;&amp;nbsp;As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to 6.99 trillion from a year earlier. This is the first time in eight years that term deposits in rural India have contracted.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;As can be seen clearly from the graph, the rate of growth in term deposits in rural India has fallen rapidly over the last year. In March 2020, it was at an all-time high of 21.4%, and it has since then come down dramatically.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;A simple explanation for this lies in the negative economic impact that the spread of the Covid pandemic has had on rural India. With lockdowns and curfews in place through a significant part of the year in urban India, economic activity has been negatively impacted. Many people working in India&amp;rsquo;s urban centres send money to their homes in villages. With economic activity having been affected, so must have their incomes and the money they send home. Many people who moved back home from urban to rural India when the pandemic first broke out still haven&amp;rsquo;t returned. This impacted their incomes and, in turn, their savings and possibly explains the contraction in rural savings.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The other possible reason may be that their savings must have depleted because of expenses to treat of covid, given that a large part of the health spending in India is out of pocket. In answer to a question in the Lok Sabha in July 2019, the government said: &amp;ldquo;As per National Health Accounts (NHA) Estimates 2015-16, the household&amp;rsquo;s out of pocket expenditure on health accounts for 60.6% of total health expenditure in the country.&amp;quot;&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;In another answer to a question in the Lok Sabha in February 2020, the government pointed out that per capita spending on health in 2016-17 stood at 4,381. Of this, the government had spent 1,418. This means that in 2016-17, Indians had met more than two-thirds of the health expenses, on average, from their resources. It is safe to assume that this ratio is worse in rural areas, where the health system is substantially weaker.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Of course, this data is for normal times, not for a pandemic year, like the last financial year was. In the pandemic year, health expenditure has gone through the roof for those who have had to incur it, needing them to dip into their savings. This should be another reason behind the contraction in rural savings. It will be interesting to see this data as of 30 June, as and when it is released, given that the worst impact of the second wave of covid was in April and May.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://www.livemint.com/economy/rural-term-deposits-fall-for-first-time-in-eight-years-11624265846577.html&quot; title=&quot;https://www.livemint.com/economy/rural-term-deposits-fall-for-first-time-in-eight-years-11624265846577.html&quot;&gt;click here&lt;/a&gt; to read more.&amp;nbsp;&lt;/p&gt;&#039;
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As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to ₹6.99 trillion from a year earlier

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                <strong>Rural term deposits fall for first time in eight years -Vivek Kaul</strong></h1>
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                <p style="text-align:justify">-Livemint.com</p><p style="text-align:justify"><em>As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to 6.99 trillion from a year earlier</em></p><p style="text-align:justify">Every three months, the Reserve Bank of India (RBI) declares region wise data for term deposits. As of 31 March, the total term deposits of commercial banks in India rose 8.42% to 86.4 trillion from a year earlier.</p><p style="text-align:justify">Term deposits are money that depositors keep in a bank for a specific period. Fixed deposits and recurring deposits are examples of term deposits.</p><p style="text-align:justify">While there are no major surprises at the overall level, when we look at the data region-wise &ndash; rural, semi-urban, urban and metropolitan &ndash; a few interesting inferences can be made.</p><p style="text-align:justify">Take a look at the following chart. It plots the total growth/contraction in outstanding term deposits in commercial banks in rural India.</p><p style="text-align:justify">&nbsp;As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to 6.99 trillion from a year earlier. This is the first time in eight years that term deposits in rural India have contracted.</p><p style="text-align:justify">As can be seen clearly from the graph, the rate of growth in term deposits in rural India has fallen rapidly over the last year. In March 2020, it was at an all-time high of 21.4%, and it has since then come down dramatically.</p><p style="text-align:justify">A simple explanation for this lies in the negative economic impact that the spread of the Covid pandemic has had on rural India. With lockdowns and curfews in place through a significant part of the year in urban India, economic activity has been negatively impacted. Many people working in India&rsquo;s urban centres send money to their homes in villages. With economic activity having been affected, so must have their incomes and the money they send home. Many people who moved back home from urban to rural India when the pandemic first broke out still haven&rsquo;t returned. This impacted their incomes and, in turn, their savings and possibly explains the contraction in rural savings.</p><p style="text-align:justify">The other possible reason may be that their savings must have depleted because of expenses to treat of covid, given that a large part of the health spending in India is out of pocket. In answer to a question in the Lok Sabha in July 2019, the government said: &ldquo;As per National Health Accounts (NHA) Estimates 2015-16, the household&rsquo;s out of pocket expenditure on health accounts for 60.6% of total health expenditure in the country.&quot;</p><p style="text-align:justify">In another answer to a question in the Lok Sabha in February 2020, the government pointed out that per capita spending on health in 2016-17 stood at 4,381. Of this, the government had spent 1,418. This means that in 2016-17, Indians had met more than two-thirds of the health expenses, on average, from their resources. It is safe to assume that this ratio is worse in rural areas, where the health system is substantially weaker.</p><p style="text-align:justify">Of course, this data is for normal times, not for a pandemic year, like the last financial year was. In the pandemic year, health expenditure has gone through the roof for those who have had to incur it, needing them to dip into their savings. This should be another reason behind the contraction in rural savings. It will be interesting to see this data as of 30 June, as and when it is released, given that the worst impact of the second wave of covid was in April and May.</p><p style="text-align:justify">Please <a href="https://www.livemint.com/economy/rural-term-deposits-fall-for-first-time-in-eight-years-11624265846577.html" title="https://www.livemint.com/economy/rural-term-deposits-fall-for-first-time-in-eight-years-11624265846577.html">click here</a> to read more.&nbsp;</p>               </font>
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&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to ₹6.99 trillion from a year earlier&lt;/em&gt;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Every three months, the Reserve Bank of India (RBI) declares region wise data for term deposits. As of 31 March, the total term deposits of commercial banks in India rose 8.42% to ₹86.4 trillion from a year earlier.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Term deposits are money that depositors keep in a bank for a specific period. Fixed deposits and recurring deposits are examples of term deposits.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;While there are no major surprises at the overall level, when we look at the data region-wise &amp;ndash; rural, semi-urban, urban and metropolitan &amp;ndash; a few interesting inferences can be made.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Take a look at the following chart. It plots the total growth/contraction in outstanding term deposits in commercial banks in rural India.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;&amp;nbsp;As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to ₹6.99 trillion from a year earlier. This is the first time in eight years that term deposits in rural India have contracted.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;As can be seen clearly from the graph, the rate of growth in term deposits in rural India has fallen rapidly over the last year. In March 2020, it was at an all-time high of 21.4%, and it has since then come down dramatically.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;A simple explanation for this lies in the negative economic impact that the spread of the Covid pandemic has had on rural India. With lockdowns and curfews in place through a significant part of the year in urban India, economic activity has been negatively impacted. Many people working in India&amp;rsquo;s urban centres send money to their homes in villages. With economic activity having been affected, so must have their incomes and the money they send home. Many people who moved back home from urban to rural India when the pandemic first broke out still haven&amp;rsquo;t returned. This impacted their incomes and, in turn, their savings and possibly explains the contraction in rural savings.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The other possible reason may be that their savings must have depleted because of expenses to treat of covid, given that a large part of the health spending in India is out of pocket. In answer to a question in the Lok Sabha in July 2019, the government said: &amp;ldquo;As per National Health Accounts (NHA) Estimates 2015-16, the household&amp;rsquo;s out of pocket expenditure on health accounts for 60.6% of total health expenditure in the country.&amp;quot;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;In another answer to a question in the Lok Sabha in February 2020, the government pointed out that per capita spending on health in 2016-17 stood at ₹4,381. Of this, the government had spent ₹1,418. This means that in 2016-17, Indians had met more than two-thirds of the health expenses, on average, from their resources. It is safe to assume that this ratio is worse in rural areas, where the health system is substantially weaker.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Of course, this data is for normal times, not for a pandemic year, like the last financial year was. In the pandemic year, health expenditure has gone through the roof for those who have had to incur it, needing them to dip into their savings. This should be another reason behind the contraction in rural savings. It will be interesting to see this data as of 30 June, as and when it is released, given that the worst impact of the second wave of covid was in April and May.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://www.livemint.com/economy/rural-term-deposits-fall-for-first-time-in-eight-years-11624265846577.html&quot;&gt;click here&lt;/a&gt; to read more.&amp;nbsp;&lt;/p&gt;
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As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to ₹6.99 trillion from a year earlier

Every three months, the Reserve Bank of India (RBI) declares region wise data for term deposits. As...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;p style=&quot;text-align:justify&quot;&gt;-Livemint.com&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to 6.99 trillion from a year earlier&lt;/em&gt;&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Every three months, the Reserve Bank of India (RBI) declares region wise data for term deposits. As of 31 March, the total term deposits of commercial banks in India rose 8.42% to 86.4 trillion from a year earlier.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Term deposits are money that depositors keep in a bank for a specific period. Fixed deposits and recurring deposits are examples of term deposits.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;While there are no major surprises at the overall level, when we look at the data region-wise &amp;ndash; rural, semi-urban, urban and metropolitan &amp;ndash; a few interesting inferences can be made.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Take a look at the following chart. It plots the total growth/contraction in outstanding term deposits in commercial banks in rural India.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;&amp;nbsp;As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to 6.99 trillion from a year earlier. This is the first time in eight years that term deposits in rural India have contracted.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;As can be seen clearly from the graph, the rate of growth in term deposits in rural India has fallen rapidly over the last year. In March 2020, it was at an all-time high of 21.4%, and it has since then come down dramatically.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;A simple explanation for this lies in the negative economic impact that the spread of the Covid pandemic has had on rural India. With lockdowns and curfews in place through a significant part of the year in urban India, economic activity has been negatively impacted. Many people working in India&amp;rsquo;s urban centres send money to their homes in villages. With economic activity having been affected, so must have their incomes and the money they send home. Many people who moved back home from urban to rural India when the pandemic first broke out still haven&amp;rsquo;t returned. This impacted their incomes and, in turn, their savings and possibly explains the contraction in rural savings.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The other possible reason may be that their savings must have depleted because of expenses to treat of covid, given that a large part of the health spending in India is out of pocket. In answer to a question in the Lok Sabha in July 2019, the government said: &amp;ldquo;As per National Health Accounts (NHA) Estimates 2015-16, the household&amp;rsquo;s out of pocket expenditure on health accounts for 60.6% of total health expenditure in the country.&amp;quot;&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;In another answer to a question in the Lok Sabha in February 2020, the government pointed out that per capita spending on health in 2016-17 stood at 4,381. Of this, the government had spent 1,418. This means that in 2016-17, Indians had met more than two-thirds of the health expenses, on average, from their resources. It is safe to assume that this ratio is worse in rural areas, where the health system is substantially weaker.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Of course, this data is for normal times, not for a pandemic year, like the last financial year was. In the pandemic year, health expenditure has gone through the roof for those who have had to incur it, needing them to dip into their savings. This should be another reason behind the contraction in rural savings. It will be interesting to see this data as of 30 June, as and when it is released, given that the worst impact of the second wave of covid was in April and May.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://www.livemint.com/economy/rural-term-deposits-fall-for-first-time-in-eight-years-11624265846577.html&quot; title=&quot;https://www.livemint.com/economy/rural-term-deposits-fall-for-first-time-in-eight-years-11624265846577.html&quot;&gt;click here&lt;/a&gt; to read more.&amp;nbsp;&lt;/p&gt;&#039;,
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	&#039;title&#039; =&gt; &#039;Rural term deposits fall for first time in eight years -Vivek Kaul&#039;,
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&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to ₹6.99 trillion from a year earlier&lt;/em&gt;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Every three months, the Reserve Bank of India (RBI) declares region wise data for term deposits. As of 31 March, the total term deposits of commercial banks in India rose 8.42% to ₹86.4 trillion from a year earlier.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Term deposits are money that depositors keep in a bank for a specific period. Fixed deposits and recurring deposits are examples of term deposits.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;While there are no major surprises at the overall level, when we look at the data region-wise &amp;ndash; rural, semi-urban, urban and metropolitan &amp;ndash; a few interesting inferences can be made.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Take a look at the following chart. It plots the total growth/contraction in outstanding term deposits in commercial banks in rural India.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;&amp;nbsp;As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to ₹6.99 trillion from a year earlier. This is the first time in eight years that term deposits in rural India have contracted.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;As can be seen clearly from the graph, the rate of growth in term deposits in rural India has fallen rapidly over the last year. In March 2020, it was at an all-time high of 21.4%, and it has since then come down dramatically.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;A simple explanation for this lies in the negative economic impact that the spread of the Covid pandemic has had on rural India. With lockdowns and curfews in place through a significant part of the year in urban India, economic activity has been negatively impacted. Many people working in India&amp;rsquo;s urban centres send money to their homes in villages. With economic activity having been affected, so must have their incomes and the money they send home. Many people who moved back home from urban to rural India when the pandemic first broke out still haven&amp;rsquo;t returned. This impacted their incomes and, in turn, their savings and possibly explains the contraction in rural savings.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The other possible reason may be that their savings must have depleted because of expenses to treat of covid, given that a large part of the health spending in India is out of pocket. In answer to a question in the Lok Sabha in July 2019, the government said: &amp;ldquo;As per National Health Accounts (NHA) Estimates 2015-16, the household&amp;rsquo;s out of pocket expenditure on health accounts for 60.6% of total health expenditure in the country.&amp;quot;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;In another answer to a question in the Lok Sabha in February 2020, the government pointed out that per capita spending on health in 2016-17 stood at ₹4,381. Of this, the government had spent ₹1,418. This means that in 2016-17, Indians had met more than two-thirds of the health expenses, on average, from their resources. It is safe to assume that this ratio is worse in rural areas, where the health system is substantially weaker.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Of course, this data is for normal times, not for a pandemic year, like the last financial year was. In the pandemic year, health expenditure has gone through the roof for those who have had to incur it, needing them to dip into their savings. This should be another reason behind the contraction in rural savings. It will be interesting to see this data as of 30 June, as and when it is released, given that the worst impact of the second wave of covid was in April and May.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://www.livemint.com/economy/rural-term-deposits-fall-for-first-time-in-eight-years-11624265846577.html&quot;&gt;click here&lt;/a&gt; to read more.&amp;nbsp;&lt;/p&gt;
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As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to ₹6.99 trillion from a year earlier

Every three months, the Reserve Bank of India (RBI) declares region wise data for term deposits. As...&#039;
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As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to ₹6.99 trillion from a year earlier

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                <strong>Rural term deposits fall for first time in eight years -Vivek Kaul</strong></h1>
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                <p style="text-align:justify">-Livemint.com</p><p style="text-align:justify"><em>As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to 6.99 trillion from a year earlier</em></p><p style="text-align:justify">Every three months, the Reserve Bank of India (RBI) declares region wise data for term deposits. As of 31 March, the total term deposits of commercial banks in India rose 8.42% to 86.4 trillion from a year earlier.</p><p style="text-align:justify">Term deposits are money that depositors keep in a bank for a specific period. Fixed deposits and recurring deposits are examples of term deposits.</p><p style="text-align:justify">While there are no major surprises at the overall level, when we look at the data region-wise &ndash; rural, semi-urban, urban and metropolitan &ndash; a few interesting inferences can be made.</p><p style="text-align:justify">Take a look at the following chart. It plots the total growth/contraction in outstanding term deposits in commercial banks in rural India.</p><p style="text-align:justify">&nbsp;As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to 6.99 trillion from a year earlier. This is the first time in eight years that term deposits in rural India have contracted.</p><p style="text-align:justify">As can be seen clearly from the graph, the rate of growth in term deposits in rural India has fallen rapidly over the last year. In March 2020, it was at an all-time high of 21.4%, and it has since then come down dramatically.</p><p style="text-align:justify">A simple explanation for this lies in the negative economic impact that the spread of the Covid pandemic has had on rural India. With lockdowns and curfews in place through a significant part of the year in urban India, economic activity has been negatively impacted. Many people working in India&rsquo;s urban centres send money to their homes in villages. With economic activity having been affected, so must have their incomes and the money they send home. Many people who moved back home from urban to rural India when the pandemic first broke out still haven&rsquo;t returned. This impacted their incomes and, in turn, their savings and possibly explains the contraction in rural savings.</p><p style="text-align:justify">The other possible reason may be that their savings must have depleted because of expenses to treat of covid, given that a large part of the health spending in India is out of pocket. In answer to a question in the Lok Sabha in July 2019, the government said: &ldquo;As per National Health Accounts (NHA) Estimates 2015-16, the household&rsquo;s out of pocket expenditure on health accounts for 60.6% of total health expenditure in the country.&quot;</p><p style="text-align:justify">In another answer to a question in the Lok Sabha in February 2020, the government pointed out that per capita spending on health in 2016-17 stood at 4,381. Of this, the government had spent 1,418. This means that in 2016-17, Indians had met more than two-thirds of the health expenses, on average, from their resources. It is safe to assume that this ratio is worse in rural areas, where the health system is substantially weaker.</p><p style="text-align:justify">Of course, this data is for normal times, not for a pandemic year, like the last financial year was. In the pandemic year, health expenditure has gone through the roof for those who have had to incur it, needing them to dip into their savings. This should be another reason behind the contraction in rural savings. It will be interesting to see this data as of 30 June, as and when it is released, given that the worst impact of the second wave of covid was in April and May.</p><p style="text-align:justify">Please <a href="https://www.livemint.com/economy/rural-term-deposits-fall-for-first-time-in-eight-years-11624265846577.html" title="https://www.livemint.com/economy/rural-term-deposits-fall-for-first-time-in-eight-years-11624265846577.html">click here</a> to read more.&nbsp;</p>               </font>
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    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f990c9a4aec-trace').style.display = (document.getElementById('cakeErr67f990c9a4aec-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67f990c9a4aec-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f990c9a4aec-code').style.display = (document.getElementById('cakeErr67f990c9a4aec-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f990c9a4aec-context').style.display = (document.getElementById('cakeErr67f990c9a4aec-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67f990c9a4aec-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
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		&#039;title&#039; =&gt; &#039;Rural term deposits fall for first time in eight years -Vivek Kaul&#039;,
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&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to ₹6.99 trillion from a year earlier&lt;/em&gt;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Every three months, the Reserve Bank of India (RBI) declares region wise data for term deposits. As of 31 March, the total term deposits of commercial banks in India rose 8.42% to ₹86.4 trillion from a year earlier.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Term deposits are money that depositors keep in a bank for a specific period. Fixed deposits and recurring deposits are examples of term deposits.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;While there are no major surprises at the overall level, when we look at the data region-wise &amp;ndash; rural, semi-urban, urban and metropolitan &amp;ndash; a few interesting inferences can be made.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Take a look at the following chart. It plots the total growth/contraction in outstanding term deposits in commercial banks in rural India.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;&amp;nbsp;As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to ₹6.99 trillion from a year earlier. This is the first time in eight years that term deposits in rural India have contracted.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;As can be seen clearly from the graph, the rate of growth in term deposits in rural India has fallen rapidly over the last year. In March 2020, it was at an all-time high of 21.4%, and it has since then come down dramatically.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;A simple explanation for this lies in the negative economic impact that the spread of the Covid pandemic has had on rural India. With lockdowns and curfews in place through a significant part of the year in urban India, economic activity has been negatively impacted. Many people working in India&amp;rsquo;s urban centres send money to their homes in villages. With economic activity having been affected, so must have their incomes and the money they send home. Many people who moved back home from urban to rural India when the pandemic first broke out still haven&amp;rsquo;t returned. This impacted their incomes and, in turn, their savings and possibly explains the contraction in rural savings.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The other possible reason may be that their savings must have depleted because of expenses to treat of covid, given that a large part of the health spending in India is out of pocket. In answer to a question in the Lok Sabha in July 2019, the government said: &amp;ldquo;As per National Health Accounts (NHA) Estimates 2015-16, the household&amp;rsquo;s out of pocket expenditure on health accounts for 60.6% of total health expenditure in the country.&amp;quot;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;In another answer to a question in the Lok Sabha in February 2020, the government pointed out that per capita spending on health in 2016-17 stood at ₹4,381. Of this, the government had spent ₹1,418. This means that in 2016-17, Indians had met more than two-thirds of the health expenses, on average, from their resources. It is safe to assume that this ratio is worse in rural areas, where the health system is substantially weaker.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Of course, this data is for normal times, not for a pandemic year, like the last financial year was. In the pandemic year, health expenditure has gone through the roof for those who have had to incur it, needing them to dip into their savings. This should be another reason behind the contraction in rural savings. It will be interesting to see this data as of 30 June, as and when it is released, given that the worst impact of the second wave of covid was in April and May.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://www.livemint.com/economy/rural-term-deposits-fall-for-first-time-in-eight-years-11624265846577.html&quot;&gt;click here&lt;/a&gt; to read more.&amp;nbsp;&lt;/p&gt;
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As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to ₹6.99 trillion from a year earlier

Every three months, the Reserve Bank of India (RBI) declares region wise data for term deposits. As...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;p style=&quot;text-align:justify&quot;&gt;-Livemint.com&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to 6.99 trillion from a year earlier&lt;/em&gt;&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Every three months, the Reserve Bank of India (RBI) declares region wise data for term deposits. As of 31 March, the total term deposits of commercial banks in India rose 8.42% to 86.4 trillion from a year earlier.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Term deposits are money that depositors keep in a bank for a specific period. Fixed deposits and recurring deposits are examples of term deposits.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;While there are no major surprises at the overall level, when we look at the data region-wise &amp;ndash; rural, semi-urban, urban and metropolitan &amp;ndash; a few interesting inferences can be made.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Take a look at the following chart. It plots the total growth/contraction in outstanding term deposits in commercial banks in rural India.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;&amp;nbsp;As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to 6.99 trillion from a year earlier. This is the first time in eight years that term deposits in rural India have contracted.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;As can be seen clearly from the graph, the rate of growth in term deposits in rural India has fallen rapidly over the last year. In March 2020, it was at an all-time high of 21.4%, and it has since then come down dramatically.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;A simple explanation for this lies in the negative economic impact that the spread of the Covid pandemic has had on rural India. With lockdowns and curfews in place through a significant part of the year in urban India, economic activity has been negatively impacted. Many people working in India&amp;rsquo;s urban centres send money to their homes in villages. With economic activity having been affected, so must have their incomes and the money they send home. Many people who moved back home from urban to rural India when the pandemic first broke out still haven&amp;rsquo;t returned. This impacted their incomes and, in turn, their savings and possibly explains the contraction in rural savings.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The other possible reason may be that their savings must have depleted because of expenses to treat of covid, given that a large part of the health spending in India is out of pocket. In answer to a question in the Lok Sabha in July 2019, the government said: &amp;ldquo;As per National Health Accounts (NHA) Estimates 2015-16, the household&amp;rsquo;s out of pocket expenditure on health accounts for 60.6% of total health expenditure in the country.&amp;quot;&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;In another answer to a question in the Lok Sabha in February 2020, the government pointed out that per capita spending on health in 2016-17 stood at 4,381. Of this, the government had spent 1,418. This means that in 2016-17, Indians had met more than two-thirds of the health expenses, on average, from their resources. It is safe to assume that this ratio is worse in rural areas, where the health system is substantially weaker.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Of course, this data is for normal times, not for a pandemic year, like the last financial year was. In the pandemic year, health expenditure has gone through the roof for those who have had to incur it, needing them to dip into their savings. This should be another reason behind the contraction in rural savings. It will be interesting to see this data as of 30 June, as and when it is released, given that the worst impact of the second wave of covid was in April and May.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://www.livemint.com/economy/rural-term-deposits-fall-for-first-time-in-eight-years-11624265846577.html&quot; title=&quot;https://www.livemint.com/economy/rural-term-deposits-fall-for-first-time-in-eight-years-11624265846577.html&quot;&gt;click here&lt;/a&gt; to read more.&amp;nbsp;&lt;/p&gt;&#039;,
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&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to ₹6.99 trillion from a year earlier&lt;/em&gt;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Every three months, the Reserve Bank of India (RBI) declares region wise data for term deposits. As of 31 March, the total term deposits of commercial banks in India rose 8.42% to ₹86.4 trillion from a year earlier.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Term deposits are money that depositors keep in a bank for a specific period. Fixed deposits and recurring deposits are examples of term deposits.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;While there are no major surprises at the overall level, when we look at the data region-wise &amp;ndash; rural, semi-urban, urban and metropolitan &amp;ndash; a few interesting inferences can be made.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Take a look at the following chart. It plots the total growth/contraction in outstanding term deposits in commercial banks in rural India.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;&amp;nbsp;As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to ₹6.99 trillion from a year earlier. This is the first time in eight years that term deposits in rural India have contracted.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;As can be seen clearly from the graph, the rate of growth in term deposits in rural India has fallen rapidly over the last year. In March 2020, it was at an all-time high of 21.4%, and it has since then come down dramatically.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;A simple explanation for this lies in the negative economic impact that the spread of the Covid pandemic has had on rural India. With lockdowns and curfews in place through a significant part of the year in urban India, economic activity has been negatively impacted. Many people working in India&amp;rsquo;s urban centres send money to their homes in villages. With economic activity having been affected, so must have their incomes and the money they send home. Many people who moved back home from urban to rural India when the pandemic first broke out still haven&amp;rsquo;t returned. This impacted their incomes and, in turn, their savings and possibly explains the contraction in rural savings.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The other possible reason may be that their savings must have depleted because of expenses to treat of covid, given that a large part of the health spending in India is out of pocket. In answer to a question in the Lok Sabha in July 2019, the government said: &amp;ldquo;As per National Health Accounts (NHA) Estimates 2015-16, the household&amp;rsquo;s out of pocket expenditure on health accounts for 60.6% of total health expenditure in the country.&amp;quot;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;In another answer to a question in the Lok Sabha in February 2020, the government pointed out that per capita spending on health in 2016-17 stood at ₹4,381. Of this, the government had spent ₹1,418. This means that in 2016-17, Indians had met more than two-thirds of the health expenses, on average, from their resources. It is safe to assume that this ratio is worse in rural areas, where the health system is substantially weaker.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Of course, this data is for normal times, not for a pandemic year, like the last financial year was. In the pandemic year, health expenditure has gone through the roof for those who have had to incur it, needing them to dip into their savings. This should be another reason behind the contraction in rural savings. It will be interesting to see this data as of 30 June, as and when it is released, given that the worst impact of the second wave of covid was in April and May.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://www.livemint.com/economy/rural-term-deposits-fall-for-first-time-in-eight-years-11624265846577.html&quot;&gt;click here&lt;/a&gt; to read more.&amp;nbsp;&lt;/p&gt;
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As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to ₹6.99 trillion from a year earlier

Every three months, the Reserve Bank of India (RBI) declares region wise data for term deposits. As...&#039;
$disp = &#039;&lt;p style=&quot;text-align:justify&quot;&gt;-Livemint.com&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to 6.99 trillion from a year earlier&lt;/em&gt;&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Every three months, the Reserve Bank of India (RBI) declares region wise data for term deposits. As of 31 March, the total term deposits of commercial banks in India rose 8.42% to 86.4 trillion from a year earlier.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Term deposits are money that depositors keep in a bank for a specific period. Fixed deposits and recurring deposits are examples of term deposits.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;While there are no major surprises at the overall level, when we look at the data region-wise &amp;ndash; rural, semi-urban, urban and metropolitan &amp;ndash; a few interesting inferences can be made.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Take a look at the following chart. It plots the total growth/contraction in outstanding term deposits in commercial banks in rural India.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;&amp;nbsp;As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to 6.99 trillion from a year earlier. This is the first time in eight years that term deposits in rural India have contracted.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;As can be seen clearly from the graph, the rate of growth in term deposits in rural India has fallen rapidly over the last year. In March 2020, it was at an all-time high of 21.4%, and it has since then come down dramatically.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;A simple explanation for this lies in the negative economic impact that the spread of the Covid pandemic has had on rural India. With lockdowns and curfews in place through a significant part of the year in urban India, economic activity has been negatively impacted. Many people working in India&amp;rsquo;s urban centres send money to their homes in villages. With economic activity having been affected, so must have their incomes and the money they send home. Many people who moved back home from urban to rural India when the pandemic first broke out still haven&amp;rsquo;t returned. This impacted their incomes and, in turn, their savings and possibly explains the contraction in rural savings.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The other possible reason may be that their savings must have depleted because of expenses to treat of covid, given that a large part of the health spending in India is out of pocket. In answer to a question in the Lok Sabha in July 2019, the government said: &amp;ldquo;As per National Health Accounts (NHA) Estimates 2015-16, the household&amp;rsquo;s out of pocket expenditure on health accounts for 60.6% of total health expenditure in the country.&amp;quot;&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;In another answer to a question in the Lok Sabha in February 2020, the government pointed out that per capita spending on health in 2016-17 stood at 4,381. Of this, the government had spent 1,418. This means that in 2016-17, Indians had met more than two-thirds of the health expenses, on average, from their resources. It is safe to assume that this ratio is worse in rural areas, where the health system is substantially weaker.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Of course, this data is for normal times, not for a pandemic year, like the last financial year was. In the pandemic year, health expenditure has gone through the roof for those who have had to incur it, needing them to dip into their savings. This should be another reason behind the contraction in rural savings. It will be interesting to see this data as of 30 June, as and when it is released, given that the worst impact of the second wave of covid was in April and May.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://www.livemint.com/economy/rural-term-deposits-fall-for-first-time-in-eight-years-11624265846577.html&quot; title=&quot;https://www.livemint.com/economy/rural-term-deposits-fall-for-first-time-in-eight-years-11624265846577.html&quot;&gt;click here&lt;/a&gt; to read more.&amp;nbsp;&lt;/p&gt;&#039;
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As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to ₹6.99 trillion from a year earlier

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                <strong>Rural term deposits fall for first time in eight years -Vivek Kaul</strong></h1>
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                <p style="text-align:justify">-Livemint.com</p><p style="text-align:justify"><em>As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to 6.99 trillion from a year earlier</em></p><p style="text-align:justify">Every three months, the Reserve Bank of India (RBI) declares region wise data for term deposits. As of 31 March, the total term deposits of commercial banks in India rose 8.42% to 86.4 trillion from a year earlier.</p><p style="text-align:justify">Term deposits are money that depositors keep in a bank for a specific period. Fixed deposits and recurring deposits are examples of term deposits.</p><p style="text-align:justify">While there are no major surprises at the overall level, when we look at the data region-wise &ndash; rural, semi-urban, urban and metropolitan &ndash; a few interesting inferences can be made.</p><p style="text-align:justify">Take a look at the following chart. It plots the total growth/contraction in outstanding term deposits in commercial banks in rural India.</p><p style="text-align:justify">&nbsp;As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to 6.99 trillion from a year earlier. This is the first time in eight years that term deposits in rural India have contracted.</p><p style="text-align:justify">As can be seen clearly from the graph, the rate of growth in term deposits in rural India has fallen rapidly over the last year. In March 2020, it was at an all-time high of 21.4%, and it has since then come down dramatically.</p><p style="text-align:justify">A simple explanation for this lies in the negative economic impact that the spread of the Covid pandemic has had on rural India. With lockdowns and curfews in place through a significant part of the year in urban India, economic activity has been negatively impacted. Many people working in India&rsquo;s urban centres send money to their homes in villages. With economic activity having been affected, so must have their incomes and the money they send home. Many people who moved back home from urban to rural India when the pandemic first broke out still haven&rsquo;t returned. This impacted their incomes and, in turn, their savings and possibly explains the contraction in rural savings.</p><p style="text-align:justify">The other possible reason may be that their savings must have depleted because of expenses to treat of covid, given that a large part of the health spending in India is out of pocket. In answer to a question in the Lok Sabha in July 2019, the government said: &ldquo;As per National Health Accounts (NHA) Estimates 2015-16, the household&rsquo;s out of pocket expenditure on health accounts for 60.6% of total health expenditure in the country.&quot;</p><p style="text-align:justify">In another answer to a question in the Lok Sabha in February 2020, the government pointed out that per capita spending on health in 2016-17 stood at 4,381. Of this, the government had spent 1,418. This means that in 2016-17, Indians had met more than two-thirds of the health expenses, on average, from their resources. It is safe to assume that this ratio is worse in rural areas, where the health system is substantially weaker.</p><p style="text-align:justify">Of course, this data is for normal times, not for a pandemic year, like the last financial year was. In the pandemic year, health expenditure has gone through the roof for those who have had to incur it, needing them to dip into their savings. This should be another reason behind the contraction in rural savings. It will be interesting to see this data as of 30 June, as and when it is released, given that the worst impact of the second wave of covid was in April and May.</p><p style="text-align:justify">Please <a href="https://www.livemint.com/economy/rural-term-deposits-fall-for-first-time-in-eight-years-11624265846577.html" title="https://www.livemint.com/economy/rural-term-deposits-fall-for-first-time-in-eight-years-11624265846577.html">click here</a> to read more.&nbsp;</p>               </font>
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<p style="text-align:justify"><em>As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to ₹6.99 trillion from a year earlier</em></p>

<p style="text-align:justify">Every three months, the Reserve Bank of India (RBI) declares region wise data for term deposits. As of 31 March, the total term deposits of commercial banks in India rose 8.42% to ₹86.4 trillion from a year earlier.</p>

<p style="text-align:justify">Term deposits are money that depositors keep in a bank for a specific period. Fixed deposits and recurring deposits are examples of term deposits.</p>

<p style="text-align:justify">While there are no major surprises at the overall level, when we look at the data region-wise &ndash; rural, semi-urban, urban and metropolitan &ndash; a few interesting inferences can be made.</p>

<p style="text-align:justify">Take a look at the following chart. It plots the total growth/contraction in outstanding term deposits in commercial banks in rural India.</p>

<p style="text-align:justify">&nbsp;As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to ₹6.99 trillion from a year earlier. This is the first time in eight years that term deposits in rural India have contracted.</p>

<p style="text-align:justify">As can be seen clearly from the graph, the rate of growth in term deposits in rural India has fallen rapidly over the last year. In March 2020, it was at an all-time high of 21.4%, and it has since then come down dramatically.</p>

<p style="text-align:justify">A simple explanation for this lies in the negative economic impact that the spread of the Covid pandemic has had on rural India. With lockdowns and curfews in place through a significant part of the year in urban India, economic activity has been negatively impacted. Many people working in India&rsquo;s urban centres send money to their homes in villages. With economic activity having been affected, so must have their incomes and the money they send home. Many people who moved back home from urban to rural India when the pandemic first broke out still haven&rsquo;t returned. This impacted their incomes and, in turn, their savings and possibly explains the contraction in rural savings.</p>

<p style="text-align:justify">The other possible reason may be that their savings must have depleted because of expenses to treat of covid, given that a large part of the health spending in India is out of pocket. In answer to a question in the Lok Sabha in July 2019, the government said: &ldquo;As per National Health Accounts (NHA) Estimates 2015-16, the household&rsquo;s out of pocket expenditure on health accounts for 60.6% of total health expenditure in the country.&quot;</p>

<p style="text-align:justify">In another answer to a question in the Lok Sabha in February 2020, the government pointed out that per capita spending on health in 2016-17 stood at ₹4,381. Of this, the government had spent ₹1,418. This means that in 2016-17, Indians had met more than two-thirds of the health expenses, on average, from their resources. It is safe to assume that this ratio is worse in rural areas, where the health system is substantially weaker.</p>

<p style="text-align:justify">Of course, this data is for normal times, not for a pandemic year, like the last financial year was. In the pandemic year, health expenditure has gone through the roof for those who have had to incur it, needing them to dip into their savings. This should be another reason behind the contraction in rural savings. It will be interesting to see this data as of 30 June, as and when it is released, given that the worst impact of the second wave of covid was in April and May.</p>

<p style="text-align:justify">Please <a href="https://www.livemint.com/economy/rural-term-deposits-fall-for-first-time-in-eight-years-11624265846577.html">click here</a> to read more.&nbsp;</p>
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As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to ₹6.99 trillion from a year earlier

Every three months, the Reserve Bank of India (RBI) declares region wise data for term deposits. As...',
	'disp' => '<p style="text-align:justify">-Livemint.com</p><p style="text-align:justify"><em>As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to 6.99 trillion from a year earlier</em></p><p style="text-align:justify">Every three months, the Reserve Bank of India (RBI) declares region wise data for term deposits. As of 31 March, the total term deposits of commercial banks in India rose 8.42% to 86.4 trillion from a year earlier.</p><p style="text-align:justify">Term deposits are money that depositors keep in a bank for a specific period. Fixed deposits and recurring deposits are examples of term deposits.</p><p style="text-align:justify">While there are no major surprises at the overall level, when we look at the data region-wise &ndash; rural, semi-urban, urban and metropolitan &ndash; a few interesting inferences can be made.</p><p style="text-align:justify">Take a look at the following chart. It plots the total growth/contraction in outstanding term deposits in commercial banks in rural India.</p><p style="text-align:justify">&nbsp;As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to 6.99 trillion from a year earlier. This is the first time in eight years that term deposits in rural India have contracted.</p><p style="text-align:justify">As can be seen clearly from the graph, the rate of growth in term deposits in rural India has fallen rapidly over the last year. In March 2020, it was at an all-time high of 21.4%, and it has since then come down dramatically.</p><p style="text-align:justify">A simple explanation for this lies in the negative economic impact that the spread of the Covid pandemic has had on rural India. With lockdowns and curfews in place through a significant part of the year in urban India, economic activity has been negatively impacted. Many people working in India&rsquo;s urban centres send money to their homes in villages. With economic activity having been affected, so must have their incomes and the money they send home. Many people who moved back home from urban to rural India when the pandemic first broke out still haven&rsquo;t returned. This impacted their incomes and, in turn, their savings and possibly explains the contraction in rural savings.</p><p style="text-align:justify">The other possible reason may be that their savings must have depleted because of expenses to treat of covid, given that a large part of the health spending in India is out of pocket. In answer to a question in the Lok Sabha in July 2019, the government said: &ldquo;As per National Health Accounts (NHA) Estimates 2015-16, the household&rsquo;s out of pocket expenditure on health accounts for 60.6% of total health expenditure in the country.&quot;</p><p style="text-align:justify">In another answer to a question in the Lok Sabha in February 2020, the government pointed out that per capita spending on health in 2016-17 stood at 4,381. Of this, the government had spent 1,418. This means that in 2016-17, Indians had met more than two-thirds of the health expenses, on average, from their resources. It is safe to assume that this ratio is worse in rural areas, where the health system is substantially weaker.</p><p style="text-align:justify">Of course, this data is for normal times, not for a pandemic year, like the last financial year was. In the pandemic year, health expenditure has gone through the roof for those who have had to incur it, needing them to dip into their savings. This should be another reason behind the contraction in rural savings. It will be interesting to see this data as of 30 June, as and when it is released, given that the worst impact of the second wave of covid was in April and May.</p><p style="text-align:justify">Please <a href="https://www.livemint.com/economy/rural-term-deposits-fall-for-first-time-in-eight-years-11624265846577.html" title="https://www.livemint.com/economy/rural-term-deposits-fall-for-first-time-in-eight-years-11624265846577.html">click here</a> to read more.&nbsp;</p>',
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<p style="text-align:justify"><em>As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to ₹6.99 trillion from a year earlier</em></p>

<p style="text-align:justify">Every three months, the Reserve Bank of India (RBI) declares region wise data for term deposits. As of 31 March, the total term deposits of commercial banks in India rose 8.42% to ₹86.4 trillion from a year earlier.</p>

<p style="text-align:justify">Term deposits are money that depositors keep in a bank for a specific period. Fixed deposits and recurring deposits are examples of term deposits.</p>

<p style="text-align:justify">While there are no major surprises at the overall level, when we look at the data region-wise &ndash; rural, semi-urban, urban and metropolitan &ndash; a few interesting inferences can be made.</p>

<p style="text-align:justify">Take a look at the following chart. It plots the total growth/contraction in outstanding term deposits in commercial banks in rural India.</p>

<p style="text-align:justify">&nbsp;As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to ₹6.99 trillion from a year earlier. This is the first time in eight years that term deposits in rural India have contracted.</p>

<p style="text-align:justify">As can be seen clearly from the graph, the rate of growth in term deposits in rural India has fallen rapidly over the last year. In March 2020, it was at an all-time high of 21.4%, and it has since then come down dramatically.</p>

<p style="text-align:justify">A simple explanation for this lies in the negative economic impact that the spread of the Covid pandemic has had on rural India. With lockdowns and curfews in place through a significant part of the year in urban India, economic activity has been negatively impacted. Many people working in India&rsquo;s urban centres send money to their homes in villages. With economic activity having been affected, so must have their incomes and the money they send home. Many people who moved back home from urban to rural India when the pandemic first broke out still haven&rsquo;t returned. This impacted their incomes and, in turn, their savings and possibly explains the contraction in rural savings.</p>

<p style="text-align:justify">The other possible reason may be that their savings must have depleted because of expenses to treat of covid, given that a large part of the health spending in India is out of pocket. In answer to a question in the Lok Sabha in July 2019, the government said: &ldquo;As per National Health Accounts (NHA) Estimates 2015-16, the household&rsquo;s out of pocket expenditure on health accounts for 60.6% of total health expenditure in the country.&quot;</p>

<p style="text-align:justify">In another answer to a question in the Lok Sabha in February 2020, the government pointed out that per capita spending on health in 2016-17 stood at ₹4,381. Of this, the government had spent ₹1,418. This means that in 2016-17, Indians had met more than two-thirds of the health expenses, on average, from their resources. It is safe to assume that this ratio is worse in rural areas, where the health system is substantially weaker.</p>

<p style="text-align:justify">Of course, this data is for normal times, not for a pandemic year, like the last financial year was. In the pandemic year, health expenditure has gone through the roof for those who have had to incur it, needing them to dip into their savings. This should be another reason behind the contraction in rural savings. It will be interesting to see this data as of 30 June, as and when it is released, given that the worst impact of the second wave of covid was in April and May.</p>

<p style="text-align:justify">Please <a href="https://www.livemint.com/economy/rural-term-deposits-fall-for-first-time-in-eight-years-11624265846577.html">click here</a> to read more.&nbsp;</p>
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$metaTitle = 'LATEST NEWS UPDATES | Rural term deposits fall for first time in eight years -Vivek Kaul'
$metaKeywords = 'Fixed deposits,Term deposits,Time deposits,Recurring deposits,Out of pocket health expenditure,Public spending on health'
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As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to ₹6.99 trillion from a year earlier

Every three months, the Reserve Bank of India (RBI) declares region wise data for term deposits. As...'
$disp = '<p style="text-align:justify">-Livemint.com</p><p style="text-align:justify"><em>As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to 6.99 trillion from a year earlier</em></p><p style="text-align:justify">Every three months, the Reserve Bank of India (RBI) declares region wise data for term deposits. As of 31 March, the total term deposits of commercial banks in India rose 8.42% to 86.4 trillion from a year earlier.</p><p style="text-align:justify">Term deposits are money that depositors keep in a bank for a specific period. Fixed deposits and recurring deposits are examples of term deposits.</p><p style="text-align:justify">While there are no major surprises at the overall level, when we look at the data region-wise &ndash; rural, semi-urban, urban and metropolitan &ndash; a few interesting inferences can be made.</p><p style="text-align:justify">Take a look at the following chart. It plots the total growth/contraction in outstanding term deposits in commercial banks in rural India.</p><p style="text-align:justify">&nbsp;As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to 6.99 trillion from a year earlier. This is the first time in eight years that term deposits in rural India have contracted.</p><p style="text-align:justify">As can be seen clearly from the graph, the rate of growth in term deposits in rural India has fallen rapidly over the last year. In March 2020, it was at an all-time high of 21.4%, and it has since then come down dramatically.</p><p style="text-align:justify">A simple explanation for this lies in the negative economic impact that the spread of the Covid pandemic has had on rural India. With lockdowns and curfews in place through a significant part of the year in urban India, economic activity has been negatively impacted. Many people working in India&rsquo;s urban centres send money to their homes in villages. With economic activity having been affected, so must have their incomes and the money they send home. Many people who moved back home from urban to rural India when the pandemic first broke out still haven&rsquo;t returned. This impacted their incomes and, in turn, their savings and possibly explains the contraction in rural savings.</p><p style="text-align:justify">The other possible reason may be that their savings must have depleted because of expenses to treat of covid, given that a large part of the health spending in India is out of pocket. In answer to a question in the Lok Sabha in July 2019, the government said: &ldquo;As per National Health Accounts (NHA) Estimates 2015-16, the household&rsquo;s out of pocket expenditure on health accounts for 60.6% of total health expenditure in the country.&quot;</p><p style="text-align:justify">In another answer to a question in the Lok Sabha in February 2020, the government pointed out that per capita spending on health in 2016-17 stood at 4,381. Of this, the government had spent 1,418. This means that in 2016-17, Indians had met more than two-thirds of the health expenses, on average, from their resources. It is safe to assume that this ratio is worse in rural areas, where the health system is substantially weaker.</p><p style="text-align:justify">Of course, this data is for normal times, not for a pandemic year, like the last financial year was. In the pandemic year, health expenditure has gone through the roof for those who have had to incur it, needing them to dip into their savings. This should be another reason behind the contraction in rural savings. It will be interesting to see this data as of 30 June, as and when it is released, given that the worst impact of the second wave of covid was in April and May.</p><p style="text-align:justify">Please <a href="https://www.livemint.com/economy/rural-term-deposits-fall-for-first-time-in-eight-years-11624265846577.html" title="https://www.livemint.com/economy/rural-term-deposits-fall-for-first-time-in-eight-years-11624265846577.html">click here</a> to read more.&nbsp;</p>'
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Rural term deposits fall for first time in eight years -Vivek Kaul

-Livemint.com As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to 6.99 trillion from a year earlier Every three months, the Reserve Bank of India (RBI) declares region wise data for term deposits. As of 31 March, the total term deposits of commercial banks in India rose 8.42% to 86.4 trillion from a year earlier. Term deposits are money that depositors keep in a bank for a specific period. Fixed deposits and recurring deposits are examples of term deposits. While there are no major surprises at the overall level, when we look at the data region-wise – rural, semi-urban, urban and metropolitan – a few interesting inferences can be made. Take a look at the following chart. It plots the total growth/contraction in outstanding term deposits in commercial banks in rural India.  As of 31 March, the total outstanding term deposits with banks in rural India contracted by 1.05% to 6.99 trillion from a year earlier. This is the first time in eight years that term deposits in rural India have contracted. As can be seen clearly from the graph, the rate of growth in term deposits in rural India has fallen rapidly over the last year. In March 2020, it was at an all-time high of 21.4%, and it has since then come down dramatically. A simple explanation for this lies in the negative economic impact that the spread of the Covid pandemic has had on rural India. With lockdowns and curfews in place through a significant part of the year in urban India, economic activity has been negatively impacted. Many people working in India’s urban centres send money to their homes in villages. With economic activity having been affected, so must have their incomes and the money they send home. Many people who moved back home from urban to rural India when the pandemic first broke out still haven’t returned. This impacted their incomes and, in turn, their savings and possibly explains the contraction in rural savings. The other possible reason may be that their savings must have depleted because of expenses to treat of covid, given that a large part of the health spending in India is out of pocket. In answer to a question in the Lok Sabha in July 2019, the government said: “As per National Health Accounts (NHA) Estimates 2015-16, the household’s out of pocket expenditure on health accounts for 60.6% of total health expenditure in the country." In another answer to a question in the Lok Sabha in February 2020, the government pointed out that per capita spending on health in 2016-17 stood at 4,381. Of this, the government had spent 1,418. This means that in 2016-17, Indians had met more than two-thirds of the health expenses, on average, from their resources. It is safe to assume that this ratio is worse in rural areas, where the health system is substantially weaker. Of course, this data is for normal times, not for a pandemic year, like the last financial year was. In the pandemic year, health expenditure has gone through the roof for those who have had to incur it, needing them to dip into their savings. This should be another reason behind the contraction in rural savings. It will be interesting to see this data as of 30 June, as and when it is released, given that the worst impact of the second wave of covid was in April and May. Please click here to read more.