New Delhi, July 1 -- India's dozen public sector banks continued to lag private lenders in average deposit growth in FY26, according to the government's internal performance benchmarking analysis reviewed by Mint.

State-run banks reported an average deposit growth of 10.6% compared with 13.4% of private banks. Their average current account growth of 4.5% was significantly lower than the 13.1% growth reported by private sector banks. Savings account deposits grew 9.7% compared with 10.3% for private banks.

India's largest lender State Bank of India (SBI) posted an 11.0% growth in global deposits in FY26, broadly in line with its public sector peers' average of 10.6%. While SBI's current account growth of 4.5% matched the state-owned bank...