Before RBI takes any action during its monetary policy review schedule on 18th June 2012, we thought of updating interest rates on fixed deposits offered by various banks.
Looking at the slowdown in growth rates and developments in Europe, it is widely expected that RBI shall cut either cash reserve ratio or rates. However, after WPI inflation of 7.55% in May 2012 and upward revision of March 2012 inflation to 7.69%, analysts are not sure whether the rate cut shall be 25 basis points or 50 basis points. 100 basis points equals one percentage point.
The coming week will answer all the queries and Bachhat shall revise the interest rates details shortly thereafter if bank changes their interest rate offerings.
Click here for latest interest rates on fixed deposits
Looking at the slowdown in growth rates and developments in Europe, it is widely expected that RBI shall cut either cash reserve ratio or rates. However, after WPI inflation of 7.55% in May 2012 and upward revision of March 2012 inflation to 7.69%, analysts are not sure whether the rate cut shall be 25 basis points or 50 basis points. 100 basis points equals one percentage point.
The coming week will answer all the queries and Bachhat shall revise the interest rates details shortly thereafter if bank changes their interest rate offerings.
Click here for latest interest rates on fixed deposits
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