FinanceRecent
Fresh rupee deposit rates experience a notable drop this July
Economic Times — Markets✓
Original Reporting
AI EXECUTIVE SUMMARY
Fresh rupee term deposit rates saw a slight decrease in July. Outstanding rupee deposit rates, however, remained stable during the same period. Lending rates on outstanding rupee loans also showed little change in July. The one-year average marginal cost of funds-based lending rate increased in August. This rise was primarily driven by foreign banks' higher average MCLR.
Fresh rupee term deposit rates saw a slight decrease in July. Outstanding rupee deposit rates, however, remained stable during the same period. Lending rates on outstanding rupee loans also showed little change in July. The one-year average marginal cost of funds-based lending rate increased in August. This rise was primarily driven by foreign banks' higher average MCLR.
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