A reddit user posted a query on the mutual fund community that as FD rates have dropped below 7%. Is it worth switching to debt funds now, and how do repo rates affect both? He posted that HDFC Bank has slashed the rate from 7.35% initially to 7% then and now to 6.85%.
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,