From The Economic Times
Center-Right Owned by Bennett, Coleman & Co.A month after RBI’s rate hike, banks start raising deposit rates as liquidity shrinks, Bank of India the latest to move
What's behind this
A government bank has revised its fixed‑deposit interest rates, with the new rates taking effect on 2 November after the RBI’s recent repo‑rate increase. Alongside the rate hike, the bank launched a new deposit scheme. The revision is intended to benefit depositors who wish to lock in their savings at higher rates.
AI-generated overview from 2 outlets. It summarises their reporting and adds no reporting of its own.
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center · 1 outlet
Deposit growth in the Indian banking sector is expected to accelerate to 16 per cent in FY27, supported by inflows through foreign currency non-resident bank (FCNR-B) deposits, before moderating to 11-12 per cent in the following two years, according to a report by Jefferies.
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right · 2 outlets
Domestic banks are beginning to increase their deposit rates due to shrinking liquidity conditions in the market. Bank of India recently announced a rate hike on deposits for various maturities, including a special 500-day option. This decision reflects the growing cost of deposits in the banking…
RSS excerpt
Domestic banks are beginning to increase their deposit rates due to shrinking liquidity conditions in the market. Bank of India recently announced a rate hike on deposits for various maturities, including a special 500-day option. This decision reflects the growing cost of deposits in the banking…
