HDFC Bank has announced a 25 basis points reduction in interest rates on its savings bank deposit accounts, marking the first cut since April 2022. Effective from 12 April 2025, this revision affects all customers across savings account balances. For balances below Rs 50 lakh, the interest rate is now 2.75% per annum, down from … Read more
Gaurav Kochar, Fund Managers, Mirae Asset Investment, says for banks with very strong liability franchises, large private banks, the large PSU banks, deposit mobilisation is not that big a challenge. While the challenge is real for all banks, but the larger banks relatively are better placed in this given that they have the distribution and … Read more
V Vaidyanathan, MD & CEO, IDFC First Bank, says massive floods in Tamil Nadu five or six months ago disturbed the joint liability group (JLG) portfolio. IDFC First has taken extra provisions on that book because people at the bottom of the pyramid suffer during a calamity as it affects their earnings and hence the … Read more
On a sequential basis, HDFC Bank, ICICI Bank, and Axis Bank reported a faster growth in deposits for the March quarter compared with the credit growth while IndusInd Bank and Yes Bank showed marginally lower growth in deposits than advances. Synopsis While these lenders were able to increase deposits at a faster clip during the … Read more
“On the deposit front, there is indeed a worry that the deposit growth generally has been very weak for most of the banks and perhaps that has been attributable to the fact that we had hit very low interest rates during the COVID period which was born out of the RBI sharply cutting interest rates,” … Read more
“I think there really is a good amount of customer service and good products that we have in the market place and also goodwill is fantastic for our bank. So it is all coming together,” says V Vaidyanathan, MD & CEO, IDFC First Bank.Your deposit growth is 44% while the industry is facing some pressure. … Read more
“We have been talking about deposit growth for the industry being a challenge and overall system deposit growth being in the late nine maybe slightly shy of ten. We are happy that we have been able to grow at 15% and sequentially 6% so that demonstrates the franchise power of garnering deposits,” says Shyam Srinivasan, … Read more