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Small banks plan to lower deposit rates
Rediff.com

Small banks plan to lower deposit rates

However, despite the reduction, their interest rates would be about 50-100 basis points higher than those of banks. Illustration: Uttam Ghosh/Rediff.com Small finance banks, which have been defying the trend of cheap money and are offering as much as nine per cent interest on deposits, are now falling in line and reducing interest rates. ESAF, Suryoday, Capital Local Area Bank and Fincare Small Finance Bank are a few of these banks planning to reduce interest rates on deposits by 25-50 basis ... Rediff.com, 1 month ago
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