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Fixed Deposit rates may Decline in Coming Weeks
News
Fixed deposit rates are likely to come down soon as liquidity in the market has improved while credit demand has not seen much pick-up. Signalling softening of rates, two state-owned banks, the Central Bank of India and the Oriental Bank of Commerce, have already reduced their fixed deposit rates by up to 1% on various maturities beginning April. Noting that liquidity condition is improving, Bank of Baroda CMD MD Mallya said: “I think deposit rates may come down. As far as lending rates are concerned, we will have to wait for the RBI policy before taking a call on it,” he said. According to him, easing of liquidity situation could result in softening of deposit rates on select maturities, depending on the asset liability position of individual banks.
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