Interest rates on CDs fall over 100 bps on surge in FCNR(B) inflows
Interest rates on short-term CDs have dropped by over 100 bps from their peak, says an ICICI Bank report. The fall is attributed to a surge in FCNR (B) inflows, which has significantly boosted liquidity in the banking system. Interest rates on three-month certificates of deposit (CDs) have fallen by more than 100 basis points … Read more