Indian households are considering shifting savings back to bank deposits as weak stock markets and geopolitical worries sap demand for riskier assets, the chief executive officer at Sumitomo Mitsui Banking Corp.-backed Yes Bank Ltd. said.
“Anecdotally, both at the bank and across the industry, we see some savings returning to deposits,” Vinay Tonse, the head of India’s sixth-largest private sector lender, said in an interview. “We are receiving a lot of inquiries about whether this is a good time to shift from equities to fixed deposits.”
