It is interesting to see the way banks are reacting to RBI's April 17 credit policy announcement. A few banks have cut both the lending and deposit rates for select maturities. Some others have preferred to cut the lending rates by a specified percentage points, keeping the deposit rates unchanged. It is an era of deregulation that helps banks make their own assessment of market needs, keeping in mind the resources available with them. For sure, deregulation is achieving the intended purpose.
- S. Umashankar, Nagpur (HBL)
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