Interest rates on term deposits above 7% significantly dropped to 54% by September, down from 73% in March, as banks lowered rates following RBI’s policy cuts. Loans linked to external benchmarks also saw immediate rate reductions. Public sector banks’ deposit share increased, while Maharashtra led in deposit mobilization.
Credit card issuance hits strongest pace in more than two years
The additions were led, once again, by the country’s largest issuers. HDFC Bank topped the list, adding 163,000 net new credit cards and edging past
July 27, 2026