Due to the stock market decline since October, investors' wealth has decreased by Rs 47 lakh crore. On September 27, the total market capitalization of listed companies was Rs 477.90 lakh crore.
This has now fallen to Rs 430.60 lakh crore. Increasing uncertainty and volatility in the market have led investors to turn back to banks.
According to RBI data, deposits in banks during the second fortnight of October rose to Rs 2.35 lakh crore. Before the Sensex reached its record highs, total deposits in banks during the second fortnight of August were around Rs 215.50 lakh crore.
In the first fortnight of September, there was a decline of Rs 45,000 crore in bank deposits. By the end of September, the market's downward trend had begun.
During this period, bank deposits started increasing. In October, the total bank deposits reached Rs 219 lakh crore. This shows that amidst the uncertain and risky situation in the market, Indian banks are providing a sense of security to investors.
