HDFC Bank to hike deposit rates, others to follow
One day after the Credit Policy, banks have started pushing up deposit rates.
HDFC Bank was the first of the block raising deposit rates from 25 to 50 basis points, reports CNBC-TV18.
Central Bank of India will hike deposit rates by 25-50 bps from August. Sources at Axis Bank said they too should be shortly raising rates.
ICICI Bank said their board meeting is on July 31 and while they can’t be sure what decision will be taken, chances of a deposit rate hike can’t be ruled out. Some PSU banks said they may wait longer.
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