Dollar deposit inflows push India bank CD rates lower
Mumbai (Sept. 3) — A surge in dollar deposits has pressured banks’ short-term borrowing costs, with certificates of deposit (CD) rates falling since India’s overseas-citizens plan closed.
Mumbai, Sept.
3 -- A tidal wave of dollar deposits has crashed short-term borrowing costs for banks, as India's ambitious plan targeting overseas citizens closes with a resounding success.Interest rates on certificates of deposit (CDs) which banks issue for short-term funds have fallen since the Re…