Monetary policy in the country moved into a tightening mode in May 2022 amidst inflationary pressures emanating from the conflict in Ukraine, rise in international commodity prices, disruption of supply chains and volatility in global financial market.
The authors pointed out that while the increase in term deposit rates in the latest tightening cycle has outstripped that in lending rates, savings deposit rates of banks - which represent a third of total deposits - stayed almost unchanged.
India Business News: In the RBI's November Bulletin, economists Yuvraj Kashyap, Avnish Kumar, Anand Prakash, and Shubhangi Latey noted that the pace of increase in lending