ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Lower Rates on Bank Deposits

October 29, 1966 stemmed from a number of factors, the most important of which is, of course, the higher rates of interest banks have been offering at the instance of the Reserve Bank for the past twenty months. But gradually a feeling is emerging among banks that the growth of deposits is inelastic to interest and that there- tore, the rates of interest on term deposits could be "rationalised".

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