The profit figure missed ET NOW poll projection of Rs 8,300 crore by a wide margin. Net interest income (NII) for the quarter rose 12.87 per cent YoY to Rs 27,638 crore compared with Rs 31,196 crore in the corresponding quarter last year. ET NOW poll estimated NII figure at Rs 32,500 crore.
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,