HAVING MOVED UPWARD during 2023, fixed deposit (FD) rates of the banks are unlikely to rise in the current year. Easing of liquidity tightness in the banking system in the coming months and expectations of a repo rate cut by the Reserve Bank of India (RBI) in the middle of this year will prompt lenders to apply brakes on any further hike in fixed deposit rates.
The upward movement of FD rates last year was mainly driven by a series of repo rate hikes by the RBI which started in May 2022. After raising the repo rate by 250 basis points since May 2022, the central bank has not hiked its policy rate since February 2023. Bankers believe that the transmission of repo rate hikes in banks' deposit rates is nearly complete.
Denne historien er fra January 02, 2024-utgaven av Financial Express Mumbai.
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Denne historien er fra January 02, 2024-utgaven av Financial Express Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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