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Reserve Bank of India
Reserve Bank of India
Chairmen of banks with a higher proportion of savings bank deposits used to have an extra spring in
their steps. However, things have changed over the past two days.
India's inaugural F1 race: Speeding past the poor
The Reserve Bank of India's decision on Tuesday to free the savings bank deposit rate has caught the
bigger banks, especially those with a higher proportion of savings account deposits, on the wrong foot.
These banks had advocated savings rate deregulation at a time when interest rates had a negative
bias. RBI's decision comes at an inopportune time for them.
World's top 10 employers
NONEY NATTERS
!mpact on N!N (bps) if savings bank rate increased by