Central banks’ unwavering determination to increase interest rates is truly remarkable. In the name of taming inflation, they have deliberately set themselves on a path to cause a recession – or to worsen it if it comes anyway. Moreover, they openly acknowledge the pain their policies will cause, even if they don’t emphasise that it is the poor and marginalised who will bear
Fitch has reported high growth of bank loans in FY 23 despite high interest rates of Indian banks. It also predicted rise in competition for deposits over time due to higher rates
Consumer cutbacks due to raging inflation and higher borrowing costs are failing to dent investment plans at Indian businesses tapping the country's biggest lender, a sign that a recovery in Asias third-largest economy is gathering pace.