India Banking Rate Tracker -Outstanding PSB Spreads Continue To Fall, Hit Fresh 10-Year Low Of 2.31%: CareEdge

CareEdge Research Report

In February 2024, the spread of Scheduled Commercial Banks between the weighted average lending rate and weighted average domestic term deposit rate (the net interest rate spread) stood at 2.92% and 2.95% for fresh and outstanding rates, respectively.

Meanwhile, outstanding spreads of public sector banks touched a new 10-year low of 2.31%, while private banks continued to maintain a higher spread as compared to PSBs.

The lending rate on outstanding rupee loans of scheduled commercial banks decreased by 2 basis points sequentially to 9.81%. In comparison, the deposit rate on o/s rupee term deposits increased marginally by 1 bps to 6.86% in February 2024.

Meanwhile, the one-year median MCLR of SCBs remained flat month-on-month and stood at 8.80% as of March 2024.

The lending rate on fresh rupee loans of SCBs decreased sequentially by 7 basis points (bps) to 9.36% in February 2024, while the deposit rate (Fresh) of SCBs increased by 1 bps to 6.44% in February 2024.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.