NEWS & ADVICE : FIXED DEPOSITS
Rise in deposit rates expected
By Neelima Shankar
Oct 5, 2010
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The recent hikes in deposit rates by banks have made bankers confident that there would be a rise in growth of deposits. Senior bankers have also assured RBI Governor, D Subbarao in this regard.

Deposit growth has been quite low in the first half of this fiscal amounting to only 14.78% as against RBI's forecast of 18%.

The growth in advances is also expected to take a rise with the economy experiencing a facelift. It could lie in the range of 18-19% which is only marginally lesser than the projection of 20% set by RBI.

Some of the bankers who attended the meeting included S. Sridhar, chairman and managing director of the Central Bank of India, SBI chairman .P. Bhatt, ICICI Bank CEO Chanda Kochhar, Neeraj Swaroop, India head of Standard Chartered Bank, and HDFC Bank managing director Aditya Puri.

"We are through with the September (quarter). It was a pre-policy meeting we had with the RBI,'' Sridhar said.


 


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