Stock Market Boom Threatens India's Economic Growth as Bank Deposits Decline

- Indians flocking to stock market, pulling savings from banks - Bank deposit growth at lowest in over a year, alarming government - Deposits provide cheapest funding for investment, crucial for growth - Mutual fund accounts up 134% in 5 years as Sensex climbs 26% - Slower credit growth and higher loan costs pushing firms to bond market Source: [bloomberg](https://www.bloomberg.com/news/articles/2024-08-30/stock-mania-sucking-cash-from-banks-threatens-india-s-growth)