Customer service, not interest rates, will drive deposits for private banks

Quick Summary:

However, it soon realised that interest rates were not the primary driver of deposit growth.

The challenge of deposit mobilisation for banks was intensified by the upward trend in equity markets, which has attracted more household savings than lenders.

He added that beyond the base-level deposits, the interest rate is a big differentiator.

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Article Details

Category: BusinessFinance

Markets: India

Topics: BFSI Business Standard BFSI Summit BS Events Private banks BFSI Summit 2024

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-06 @ 22:50:19 (2 weeks ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 811 words

Reading Time: 5 minutes read

Sentences: 39 lines

Sentence Length: 21 words per sentence (average)

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

Copyright Owner: © Business Standard

News ID: 23450314

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About Business Standard

Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 309 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 8 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

Content Availability: Worldwide

News Language: English

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API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #49

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