Bank of India has revised fixed deposit interest rates for amounts below Rs 2 crore. After the revision, the bank offers interest rates between 3% and 7.25% for tenures ranging from 7 days to 10 years.
Fitch Ratings predicts a 10-20 basis point narrowing of Indian banks net interest margins (NIMs) over the next two years due to increased competition for deposits, leading to higher funding costs. Fitch expects banks earnings to remain resilient, driven by net interest income, although the compression in NIMs could restrict their medium-term earnings potential.
A review of things you need to know before you sign off on Monday; more rate cuts by big banks, limp auction market, Westpac switches auditors, farmers not as grumpy, swaps slip, NZD unchanged, & more
A review of things you need to know before you sign off on Wednesday; OCR unchanged with dovish spin; KiwiSaver balances swell; FHBs topped out, labour market holds, swaps drop, NZD drops, & more