The Reserve Bank of India said monetary policy transmission has remained strong following the cumulative 125 basis points cut in the policy repo rate. The weighted average lending rate (WALR) of scheduled commercial banks declined by around 105 basis points up to December, based on available data. Of this, the pure interest rate effect accounted for about 94 basis points. On the deposit side, the weighted average domestic term deposit rate on fresh deposits fell by nearly 95 basis points during the same period. Meanwhile, the decline in deposit rates on an outstanding basis stood at about 41 basis points, reflecting gradual pass-through to existing deposits.Sanjay Malhotra, Repo Rate Cut, RBI Interest Rate #RBI #Rate #Cuts #Transmit #Bank #Lending #Deposit #Rates #Fall #Sharply1770622031
Bank
Cuts
Deposit
fall
Lending
rate
rates
RBI
RBI Interest Rate
Repo Rate Cut
Sanjay Malhotra
Sharply
Transmit
