Tag: bank deposit rates

MUMBAI: Growth in bank credit has outpaced the increase in deposits during the first five months of the current fiscal. As a result, bank deposit rates are likely to move up further, with banks' weighted average term deposit rates inching up 27 basis points in April-Aug 2023.According to RBI data, bank deposits grew by 6.6% to Rs 149.2 lakh crore in April-August 2023. For the same period, growth in bank credit rose 9.1% to Rs 124.5 lakh crore. The figures factor in the merger of HDFC with HDFC...