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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
IndiaIndia Deposit Growth YoY fell to 11.1% in July 2024
FMPMonthlyReleased July 2024
India Deposit Growth YoY fell to 11.1% in July 2024, down 1.5% from June's 12.6% reading. The reading missed the 12.5% consensus by 1.4%. Deposit Growth YoY has now declined for 5 consecutive months. Over the past 3 months, Deposit Growth YoY averaged 13.22%, vs 13.37% in the prior 3-month window. Deposit Growth YoY is now the lowest in 13 months.
Latest Release
11.1
Actual
12.5
Consensus
12.6
Previous
Median Absolute Error
±0.45 percentage points
across last 11 releases
Last Call
Jul 2024
Predicted: 12.45
Actual: 11.1
Error: +1.35
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| S&P 500 | ▲ Direct | +0.45 | INDEX | Bullish S&P 500 | → View |
| XAU/USD | ▲ Direct | +0.39 | COMMODITIES | Bullish XAU | → View |
| Nikkei 225 | ▲ Direct | +0.38 | INDEX | Bullish Nikkei 225 | → View |
| Hang Seng | ▲ Direct | +0.29 | INDEX | Bullish Hang Seng | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Deposit Growth YoY (India) was reported at 12.20 in June 2026. The reading was unchanged from the previous release. Trailing 12-month context per ETL data through June 2026. Over the past 12 months, the indicator has averaged 10.46, ranging from 9.40 to 12.70 across 20 releases.
WHY IT MATTERS
The trailing three releases averaged 11.73, unchanged from the prior three. Volatility over the past year (σ 0.96) is higher than the prior year (σ 0.69). In June readings over the past 3 years, Deposit Growth YoY has averaged 11.61.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with S&P 500 (Bullish S&P 500). A secondary relationship exists with XAU/USD, positively correlated (Bullish XAU). Over the last 11 releases, the Sigmacast model's median absolute error is 0.45.
WHAT TO WATCH NEXT
The next release is scheduled for June 26, 2026. Same-country events in the next 14 days include MPC Meeting Minutes (Jun 19) and Monetary Policy Meeting Minutes (Jun 19).
Auto-generated from current model state · Refreshes on each release · Last update June 2026.
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Deposit Growth YoY - IN
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About Deposit Growth YoY — India
DEFINITION
Deposit Growth YoY, or Deposit Growth Year-over-Year, is a financial indicator that measures the percentage change in deposits held by a financial institution over a 12-month period. This metric is used to assess the growth or decline of a bank's deposit base, which can provide insights into its financial stability and performance. A positive Deposit Growth YoY indicates an increase in deposits, while a negative figure suggests a decrease. This indicator is commonly used by investors, analysts, and regulators to evaluate the health and growth potential of a financial institution.
WHY THIS INDICATOR MATTERS
Aggregate growth figures anchor cyclical positioning across asset classes and inform fiscal and monetary policy debate. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jun 2026): actual 12.2 %. Prior reading (May 2026): 12.2 %. Before that (May 2026): 12.3 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with S&P 500 (Bullish S&P 500, r=0.45) — a useful reference for index-focused traders.