Banks relying on costly market borrowings for lending

“At this point in time, we are watching the next central bank move on the repo rate, so raising funds from the market makes sense because we can tweak the tenure. But with term deposits, there is no scope of repricing,” said a senior official at a private sector bank.

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Dollar jumps after strong US payrolls report

The US dollar index jumped significantly following the Labor Department’s report indicating an increase of 165,000 jobs last month, which far exceeded economists’ forecasts. As