Senior Citizen Savings scheme will earn 40 basis points more at 8 per cent during the January-March period, the notification said.
Fundamentally, the market is much more mature and stable than it was prior to the pandemic, he told PTI.
All buses in cities like Thane, Kalyan can be converted into electric ones, which will help reduce ticket prices for passengers by as much as 30 per cent, Gadkari added.
In financial writing, ‘year enders’ mean you turn to forecast. While everyone reviews the year gone by, financial markets look forward to what lies ahead.
With deposit growth lagging in credit growth, the interest rates on term deposits will go up which may result in the movement of funds from savings accounts to fixed deposits, the report said.
Retail inflation in India had touched 7 per cent in August as against 6.7 per cent in July due to rise in food prices.
"Banks will not be immune, but we expect that in the stress scenario NPLs could rise modestly," the report added.
The agency further said it expects the housing finance sector to grow at 13 per cent y-o-y in FY23, with affordable housing finance witnessing a growth of 16-18 per cent.
According to the government data, core inflation plunged to 5.95%, less than 6% after a lag of three months.
The RBI has forecast inflation to be 6.7 per cent by the end of current fiscal. The retail inflation for May came in at 7.04 per cent.
Also, this is the lowest in the past 18 months. The cryptocurrency market capitalisation too plunged below $1 trillion, the lowest since January 2021.
In its June 8 second bi-monthly monetary policy meeting review for FY23, RBI raised the benchmark repo rate by 50 basis points to 4.90 per cent with immediate effect.
Raises its inflation forecast to 6.7% by the end of this financial year; Analysts see more future hikes by central bank to achieve its target
The public sector lender also revised the interest rate on bulk term deposits maturing between 180 and 210 days by 40 basis points to 3.50 per cent, as against 3.10 per cent earlier.
The interest rates would be 5.90 per cent as against 5.65 per cent on two year deposits and 6.05 per cent as against 5.80 per cent on three year deposits.
As the West moved to cut off Russia’s access to its foreign reserves, limit imports of key technologies and take restrictive actions, the Kremlin launched some drastic measures to protect the economy.
Earlier, Rama Rao inspected the arrangements for the installation of a 125-foot-tall statue of Dr BR Ambedkar at PVNR Marg.
Public Provident Fund (PPF) and National Savings Certificate (NSC) will continue to carry an annual interest rate of 7.1 per cent and 6.8 per cent, respectively.
The interest rate for the five-year term deposit, recurring deposit Senior Citizens Savings Scheme has been raised to 7.8, 7.3 and 8.7 per cent, respectively.