It is curious that discussion on the rates that banks offer customers focuses primarily on lending rates. Almost no one looks at deposit rates, although it is obvious that if no money comes in as deposits, nothing can be lent out. The general drift of opinion today is that the Reserve Bank should be nudging lending rates down. The usual corollary to that would be lower deposit rates, or banks would not be able to maintain what is called their net interest margin . From this perspective, it is worth noting that bank deposits have been growing ever more slowly; the growth rate dropped from 18.3 per cent in 2009-10 to 16.7 per cent in 2010-11, and down further to ...........
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