Changing trend of saving in corona epidemic, people saved more than before

The corona epidemic also taught people to save more. Corona has raised concerns about the future. This was the reason that the number of deposits in banks have increased

Changing trend of saving in corona epidemic, people saved more than before

The corona epidemic also taught people to save more. Corona has raised concerns about the future. This was the reason that the number of deposits in banks increased from 50 thousand crores to 64 thousand crores in three years. The corona epidemic has given many lessons to the people and the tendency of deposits in banks has also increased. In three years, people deposited more than Rs 14 thousand crore in various banks. In the year 2019, 50 thousand crore rupees were deposited in the banks of Dehradun. district.

In March 2020, there was an increase of five thousand crore rupees in the deposited amount. This amount increased to 55 thousand crores. By March 2021, this figure reached 64 thousand crores. During this, more than nine thousand crore rupees were deposited in banks. This happened when the whole country was facing the havoc of Corona. At present, 64 thousand crores of people are deposited in different banks. This shows that people want to be prepared for the future.

People took more loans

Along with the savings, the people of Dehradun also took more loans. In the last three years, more than three thousand crore rupees were taken from various banks. In the year 2019, people had taken a loan of 21 thousand crores from banks. This figure increased to 22.5 crores in 2020 and 24 thousand crores in 2021.

Despite the increase in the unemployment rate and decrease in income, the increase in savings increases the risk of low investment for the Economy. With less investment, productivity will be affected, which will likely take longer for the economy's V-shape recovery said Dr. Anurag Aggarwal, Economic Affairs expert.

Deposits in various banks of the district have increased in the last three years. About Rs 14 thousand crores more has been deposited than in 2019. Along with this, the number of borrowers has also increased. During this time, people have taken more loans of Rs 3,000 crore said Abhishek Kumar Vyas, Lead Bank Officer, Dehradun.

Financial Year Total Deposits (in Crores)  Total Loans (In Crores)
2018-19   50208.58   21455.13
2019-20  55457.58 22507.07
2020-21 64178.17    24214.15