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Interest Rates Are Trending Lower Even Before RBI Has Cut Rates
New borrowers and depositors are seeing interest rates dipping at banks
07 Jun 2023, 04:02 PM IST
Softer credit demand and competitive pressure have banks shaving their margins on new loans in a bid to stay competitive, even as benchmark policy rates remain flat.Effective interest rates on fresh bank loans made in April fell after rising for nearly a year. Easier banking liquidity conditions have also driven interest rate pay-outs on fresh deposits lower, even as rates on already outstanding deposits and loans climbed higher.Rate...
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