The report threw light on falling bank deposits as a share of household financial savings, falling from 38.7% in FY24 to 35.2% in FY25. To encourage greater participation in the banking system, SBI has recommended a range of tax relief measures. The report called for the tax treatment of interest income on bank deposits to be aligned with long-term and short-term capital gains. “To boost financial savings: (a) tax treatment for interest on deposits should be at par with LTCG and STCG,” it stated. Additiona ...