ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Spasms of Decontrol

1967, scheduled commercial banks' deposits rose by Rs 830 crores or 30 per cent. Personal deposits contributed the greater part of this growth, Rs 614 crores, and came to account for 51 per cent of total bank deposits. The share of business deposits declined progressively from 29 to 25 per cent, reflecting the liquidity problems faced by this sector Significantly enough, traders' deposits were the worst affected; they remained practically stagnant and their share in total deposits came down from 11 to 9 per cent; these deposits were squeezed by credit curbs (which were biassed against advances to trade) on the one hand and the impact of the general recession and State trading in foodgrains, on the other. Deposits of government and quasi-gov- ernment bodies also declined in absolute terms.

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