MUMBAI: Faced with the slow pace of deposit growth compared with loan offtake, India's state-owned banks have doubled down on attracting depositors, even at the cost of a potential hit on their margins and profits.
Data from the Reserve Bank of India (RBI) shows these banks have taken their average term deposit, or fixed deposit, rate to the highest in nearly eight years.
In September, the weighted average domestic term deposit rate for public sector banks (PSBs) touched 7%, a first since March 2017. In the same month, private sector lenders offered 50 basis points (bps) lower on term deposits, the data showed. A basis point is one-hundredth of a percentage point.
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Kejriwal to address district conventions starting Nov II: AAP
NEW DELHI: The Delhi convener of the Aam Aadmi Party (AAP) and environment minister, Gopal Rai, announced on Wednesday a series of districtlevel worker conferences, oathtaking ceremonies, and grassroots conventions to prepare for the Delhi assembly election slated for early next year.
NGT orders revival of lake near Dhaula Kuan
The National Green Tribunal (NGT) has issued a notice to the Delhi Development Authority (DDA), instructing it to restore the 66-acre Kitchener Lake near Dhaula Kuan, which has turned green from algal bloom.
MCD report: Dengue cases cross 4,000-mark for 2024
SO FAR, THREE PEOPLE HAVE DIED FROM THE DISEASE, BUT OFFICIALS SAID ALL DEATHS OCCURRED IN SEPTEMBER
New American dream: Anatomy of a victory
WASHINGTON: Donald Trump's remarkable political win was based on a clever selection and aggregation of political issues, astute targeting of both the base and newer demographic groups, and a relatively focused and disciplined campaign machinery.
J&K House gives nod to resolution on spl status
The Jammu & Kashmir assembly on Wednesday passed a resolution seeking the restoration of the region's special status amid ruckus as Bharatiya Janata Party (BJP) legislators tore copies of the document, stormed the well of the House, and raised slogans against the speaker.
Yamuna is still covered with toxic foam as devotees prep for Chhath
NEW DELHI: A thick layer of toxic foam continued to cover the Yamuna's surface on Wednesday — a day before devotees take dip in water bodies as part of the Chhath Puja festival — with large chunks of froth seen floating past Kalindi Kunj, making mockery of efforts by agencies to reduce the pollution levels in the river.
PRIOR NOD A MUST IN PMLA CASES ON OFFICIALS, SAYS SC
The Supreme Court on Wednesday ruled that prior sanction is mandatory to prosecute public servants in money laundering cases, establishing a key procedural safeguard under the stringent Prevention of Money Laundering Act (PMLA) and adding a layer of accountability to PMLA prosecutions involving public servants.
MAN, 53, KILLED; THREE HURT IN MULTI-VEHICLE CRASH IN ROHINI
A 53-year-old tea vendor died, and three others were injured after a speeding car struck two bikes, a car, and a cart in Rohini on Wednesday evening, said police.
Kejriwal to address district conventions starting Nov 11: AAP
The Delhi convener of the Aam Aadmi Party (AAP) and environment minister, Gopal Rai, announced on Wednesday a series of districtlevel worker conferences, oathtaking ceremonies, and grassroots conventions to prepare for the Delhi assembly election slated for early next year.
Top court rejects plea seeking review of its NEET judgment
The Supreme Court has dismissed a petition seeking review of the August 2 verdict wherein it had refused to allow a fresh NEET-UG 2024 examination.
