Telangana: economy

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Hyderabad’s share, contribution

As in 2022

Sribala Vadlapatla, March 7, 2022: The Times of India

The state’s overall credit deposit ratio stands at 93%, indicating the growing economy of the state.
From: Sribala Vadlapatla, March 7, 2022: The Times of India

HYDERABAD: The state’s wealth is concentrated in Hyderabad, which is a known fact, but here’s how.

Hyderabad accounts for half of the state’s total bank deposits. The youngest state in the country — Telangana — has 6,11,401 crore in deposits spread across 5,442 commercial bank branches, with Hyderabad alone holding over 3 lakh crore.

However, the disparity that can be seen is that most of the districts in Telangana have deposits of less than 2,000 crore.

According to the Telangana state statistical abstract released by the state planning board recently, Hyderabad has 3,61,115 crore deposits in 1,202 commercial bank branches, followed by Medchal-Maljajgiri with 93,039 crore deposits, and Rangareddy with 30,179 crore deposits.

Explaining the trend here, K Narasimha Murthy, one of the directors of the National Stock Exchange (NSE), said: “Usually, cities with good and stable income groups show high deposit. States like Gujarat, Maharashtra and Uttar Pradesh will have high deposits even in other districts as they have more than one city with good economic activity. But, whereas Telangana has three districts — Hyderabad, Medchal-Malkajgiri and Rangareddy — with high deposits, but all the three are part of Hyderabad.”

The deposits can be of any type, but the high credit ratio indicates a healthy economy, the banking expert added.

Similar to Gujarat, Maharashtra and Punjab, Telangana will have a high credit deposit ratio due to strong business activity, according to Murthy.

While many districts in Telangana have only a few commercial branch operations, the majority of them have deposits less than 2,000 crore.

Experts pointed out that there is a need for growth to be expanded to other areas of the state.

“Mostly, capitals of the states will be the growth and economic engines of the state. However, Hyderabad is more robust among all, generating 68% of the state’s income, but there is a need for two or more economic engines in the state along with Hyderabad,” said professor RV Ramana Murthy, professor, school of economics, University of Hyderabad (UoH).