%20(500%20%C3%97%20280%20px)%20(500%20x%20300%20px)%20(8).png "Deposits of Senior Citizens surged by 143% to Rs 34 lakh crore in 5 years: SBI Report")
- Here are some key points from the report:
- The number of senior citizen term deposit accounts in India is estimated to be around 74 million.
- These accounts hold a combined value of Rs 34 lakh crore.
- This represents a remarkable 81% increase in account numbers and a staggering 150% jump in total deposits compared to 2018.
- Almost 73 million of these accounts are in the size of up to Rs 15 lakh.
- By assuming 7.5% interest on senior citizen bank deposits, Rs 2.6 lakh crore is the interest earned.
- This surge in deposits indicates a growing financial independence among senior citizens and their increasing participation in the country’s banking sector.
- It’s a positive trend that contributes to the overall economic growth of the country.
Question:
Q.1 What is the estimated number of senior citizen term deposit accounts in India?a. 74 million
b. 85 million
c. 100 million
d. 120 million
