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Banks increase interest rates on bulk deposits as liquidity tightens

Business Standard LogoBusiness Standard4 mo ago

Banks increase interest rates on bulk deposits as liquidity tightens - Business Standard

Quick Summary:

According to Care Edge, the widening gap between credit growth and deposit growth may lead to supply-side issues, thereby eventually constraining credit growth.

Rates on three-month corporate deposits are in the range of 6.30-6.50 per cent, up 30-35 bps from a week ago, market participants said.

Money markets are now factoring in a 50-bps hike at both this policy and the next,” the person quoted above said.“The banking system used to have Rs 6-7 trillion of liquidity and now it’s dying down.


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Article Details

Author / Journalist: Subrata Panda, Abhijit Lele & Bhaskar Dutta

Category: EconomyFinance

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-09-29 @ 21:05:00 (4 months ago)

News Timezone: GMT +5:00

Ranking: #2300 (out of 3343 stories this day)

News Source URL: business-standard.com

Language: English

Article Length: 676 words

Reading Time: 4 minutes read

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 622088

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Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 99 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 2 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

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Publisher ID: #49

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