Banks will increase interest rates on deposits

With bank credit picking up and interest rates for other savings schemes increased by the government, commercial banks will increase the interest rates on deposits, Reserve Bank of India (RBI) Governor Shaktikanta Das said.

Governor Shaktikanta Das

With bank credit picking up and interest rates for other savings schemes increased by the government, commercial banks will increase the interest rates on deposits, Reserve Bank of India (RBI) Governor Shaktikanta Das said.

Queried about banks passing on the interest rate hikes to their borrowers while not increasing their deposit rates, he said that the bank credit is picking up and they will be needing funds.