In the budget of financial year 2025-26, Rs. The announcement of tax-free income of up to Rs 12 lakh per year will increase the amount deposited in banks by about 12 lakh rupees. It is expected to increase Rs 45,000 crore. As the bank deposit increases, bank loans will also increase and revenue and profit will also increase.
Currently, the growth rate of deposits in banks is about 15 percent. The ratio of deposits in the bank’s current accounts and savings accounts is about 40 percent. This store is also known as ‘Casa’ store. Banks barely have to pay three percent interest per year. Therefore, it is considered a low -cost deposit amount. The increase in low -cost deposits increases the profit margin of the bank.
On the other hand, interest payment on the amount deposited in the bank by citizens under the age of sixty years of age. A new provision has been made in the budget that TDS will be deducted only if the interest payment amount is more than Rs 50,000. Earlier this limit was 5 lakh rupees. It was 40,000. On the other hand, annual interest payment for senior citizens Rs. If it is more than 50,000, it was to be taxed. In the budget of 2025-26, this limit has been increased to Rs 20 lakh. It has been increased to one lakh. Rupee. When there was a limit of Rs 50,000, the tax deducted amount had to struggle to get a return. Some senior citizens had to spend more in filing returns to get a refund amount. Therefore, they did not like to keep the amount deposited in senior citizen banks.
Now after the budget of 2025-26, senior citizens will get interest income of Rs 25,000 per year. If it is more than 1 lakh, then TDS will be deducted from the interest amount given on it. As a result, senior citizens will deposit more amounts in banks. Through this, banks deposit money. It is estimated to increase by Rs 15,000 crore. According to an estimate, out of the total amount deposited in banks, Rs 34.5 lakh crore is the deposit of senior citizens. The ratio of the deposits of senior citizens in the bank’s total deposit is particularly large. Third, the government’s annual revenue is Rs 1000 crore. If it is up to Rs 12 lakh, no tax will be payable due to the exemption available under Section 87-A. Therefore, senior citizens would prefer to keep deposits in safe banks.
Not only in the deposits of senior citizens, but also in the deposits of non-non-preventive citizens. It is estimated to increase Rs 7,000 crore. Rupee. Due to the income tax of up to Rs 12 lakh due to the exemption, it is estimated that the amount to be deposited by the youth in banks will increase by Rs 20,000 crore. Youth and adults under the age of sixty years will get additional money. However, the saving mentality is very low in the younger generation, ie people between the ages of 20 to 35 years. Therefore, citizens aged 35 to 59 are more likely to save tax-free money in savings than increasing their savings.
