From ICICI to Axis: Private banks cut deposit interest rates by up to 0.25%

June 19, 2019 |
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Banking
From ICICI to Axis: Private banks cut deposit interest rates by up to 0.25%

Top private sector lenders have cut their interest rates on deposits by up to 0.25 per cent over the last week, officials said Monday.

Generally, an interest rate cut in deposits is seen as a precursor to a lending rate cut. The moves by lenders including ICICI Bank and Axis Bank come amid easing liquidity conditions and also within days of a rate cut by the Reserve Bank earlier this month.

 

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