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.
Denne historien er fra November 06, 2024-utgaven av Hindustan Times.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra November 06, 2024-utgaven av Hindustan Times.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
NBCC India plans to acquire sick PSUs, redevelop land banks
NBCC India Ltd has set its sights on acquiring defunct public sector undertakings (PSUs) to redevelop and monetise their land, according to two people with direct knowledge of the matter, as the state-run construction company seeks to leverage success in developing land for some government-owned companies.
T’gana rejects Adani’s 2100-cr donation
Telangana chief minister A Revanth Reddy on Monday announced that the state government will not accept the 100 crore CSR donation pledged by the Adani Group for the Young India Skills University being set up in Ranga Reddy district on the outskirts of Hyderabad, in the wake of \"present circumstances and arising controversies\".
6,000 kg drugs seized from vessel, 6 arrested
The Indian Coast Guard (ICG) seized a vessel and arrested six Myanmarese nationals carrying 6,000 kg of contraband Methamphetamine near Andaman and Nicobar Islands, an official said.
SC SEEKS STEPS TO STOP DISPOSAL OF WASTE IN YAMUNA ALONG TAJ MAHAL
The Supreme Court on Monday directed Uttar Pradesh Jal Nigam to take immediate steps to prevent disposal of waste into portion of Yamuna flowing past Taj Mahal as the court set a deadline of one month for the authorities to act on the untapped and partially tapped drains emptying their untreated contents into the river.
THE WIZARDS OF PERTH
With odds stacked against them after a 3-0 home series loss to NZ, India pull off a stunning win in Perth
'Lucky to have Aishwarya at home with Aaradhya,' says Abhishek amid divorce rumors
Amid swirling rumors of a divorce, Abhishek Bachchan has seemingly broken his silence about his wife, Aishwarya Rai Bachchan, and their daughter, Aaradhya.
Indian pacers hog limelight on Day 2 of auction
Compared to the action-packed proceedings of the opening days when marquee names are up for grabs at IPL auctions with the teams having a big purse to splurge, the second day is usually low key with the interest mainly on who will be the next unknown name to hit the jackpot.
RTM, a point of difference in bidding battles
The IPL auction is a one-of-a-kind mass entertainer, running successfully for 17 years.
Ding shows steel, catches Gukesh by surprise to win opening game
Indian teenager, playing with White, resigns after 42 moves as the Chinese current champion strikes first in the 14-game match
Vaibhav, 13 and an IPL crorepati
At 13, most aspiring cricketers will be happy to get their game in order. Vaibhav Suryavanshi, however, is on fast forward mode.
