Lower real interest rates have not hurt deposit growth in India: SBI Research
Deposit growth in India improved despite declining real interest rates, according to an SBI Ecowrap report. The report noted that deposit mobilisation remained resilient even with lower real returns. RBI's foreign exchange management enabled recouping foreign exchange reserves and vacating short-term forward positions. The central bank's policy communication showed a predominantly dovish profile, and loan pricing standardization is expected to enhance transparency.
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