Conclusion This will be my last speech on Basel II as a member of the Board of Governors of the Federal Reserve System. I want to thank many of you in the audience for taking the time to meet with me and answer my many questions related to capital and risk management over the years.
Aggregate deposits increased by 10.3 per cent (y-o-y) in December 2022 as compared with 9.6 per cent a year ago, led by 13.2 per cent growth in term deposits 11. The government has continued on the path of fiscal consolidation in the Union Budget 2023-24 by reprioritising expenditure mix.