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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 | Co-movement | Action |
|---|---|---|---|---|---|
| XAU/USD | ▲ Direct | +0.35 | COMMODITIES | Moves with | → View |
| Nikkei 225 | ▲ Direct | +0.31 | INDEX | Moves with | → View |
| Hang Seng | ▲ Direct | +0.30 | INDEX | Moves with | → 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 14.7% in August 2026. The reading fell from the previous value of 15.4%. Trailing 12-month context per ETL data through August 2026. Over the past 12 months, the indicator has averaged 11.37%, ranging from 9.4% to 15.4% across 18 releases.
WHY IT MATTERS
The trailing three releases averaged 14.27%, up from the prior three at 12.57%. Volatility over the past year (σ 1.8%) is higher than the prior year (σ 0.64%). In August readings over the past 3 years, Deposit Growth YoY has averaged 11.71%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with XAU/USD (Bullish XAU). A secondary relationship exists with Nikkei 225, positively correlated (Bullish Nikkei 225). 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 September 18, 2026. Same-country events in the next 14 days include Balance of Trade (Sep 15) and HSBC Manufacturing PMI (Sep 23).
Auto-generated from current model state · Refreshes on each release · Last update August 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 (Aug 2026): actual 14.7 %. Prior reading (Aug 2026): 15.4 %. Before that (Jul 2026): 12.7 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection.
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EXPECTED ZONE
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Economic Calendar - IN Events
| Monday, September 14, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 06:30 | IN | WPI Manufacturing YoY | 8.37 | 8.29 | 8.5 | 9.11 | Low |
| 06:30 | IN | WPI Inflation YoY | 9.92 | 9.78 | 9.89 | 10.04 | Low |
| 06:30 | IN | WPI Food Index YoY | 7.05 | 6.65 | 6.7 | 7.38 | Low |
| 06:30 | IN | WPI Fuel YoY | 22.93 | 20.05 | 15 | 18.31 | Low |
| 10:30 | IN | Inflation Rate MoM | 0.73 | 0.88 | 0.6 | 0.67 | Low |
| 10:30 | IN | Inflation Rate YoY | 4.82 | 4.44 | 4.8 | 4.81 | Medium |
| Tuesday, September 15, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 09:00 | IN | Balance of Trade | -31.98 | -33 | -33.61 | Medium | |
| 10:30 | IN | Unemployment Rate | 5.1 | 5.2 | 5.30 | Low | |