"Young Indians are aspirational. They get attracted to different markets. There is nothing wrong in it, it's a natural process and a positive development," Shaktikanta Das told local television channel NDTV Profit in an interview.
"We are cautioning banks to monitor this situation carefully. There is no problem now, but it can become a structural liquidity problem in the future."
As of July 26, Indian banks saw a 13.7% increase in loans compared to the previous year, while deposits grew by 10.6%, according to the latest provisional data from the RBI.
Strong economic growth and rising urban consumption have driven up loan demand, but deposit growth has not kept pace.
Governor Das emphasized the need for banks to attract more deposits through innovative products and services.
He noted that while credit growth and disbursements have accelerated due to technological advancements, deposit mobilization, which is still primarily conducted through physical channels, has been slower.