Banks and NBFCs like HDFC Bank, Yes Bank, and Bajaj Finance have started cutting deposit rates, signaling a downward trend in interest rates. The Reserve Bank of India is expected to announce another repo rate cut soon, which will further enhance liquidity and likely lower lending rates.
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,