The Reserve Bank of India reported that almost all Rs 2000 banknotes have been returned. The bank withdrew the notes from circulation on May 19, 2023. The total value of these notes was Rs 3.56 lakh crore. The RBI said that 98.04 percent of the notes are back in the banking system.
Banks unlikely to reduce deposit rates despite RBI easing
Following the latest repo rate decrease, bankers foresee only slight adjustments to deposit rates. The landscape, characterized by sluggish savings yields and elevated credit-deposit ratios,