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Inflation may peak in December to reach 14-14.5%
10 Jul '08
4 min read
Despite the increase in deposits rate effected since July 2008 and negative sentiment in the equity markets, the current inflation may reduce the deposits growth to 20 per cent in 2008-09.
The growth rate in deposits had gone up to more than 22 per cent in 2006-07 from 12.7 per cent in 2004-05. It was 21.2 per cent in the last fiscal.
According to the latest data available, the year-on-year expansion in deposits has fallen to 21.95 per cent as on June 20, 2008. It is significantly down from 23.2 per cent on June 6, 2008.
The return on deposits with maturity of more than one year had increased to 7.5-9.6 per cent in 2007-08 from 5.25-6.25 per cent in 2004-05.
It has reached 8.25-10 per at present and may go up by about 25 basis points before the end of the current financial year.
The growth rate in deposits had gone up to more than 22 per cent in 2006-07 from 12.7 per cent in 2004-05. It was 21.2 per cent in the last fiscal.
According to the latest data available, the year-on-year expansion in deposits has fallen to 21.95 per cent as on June 20, 2008. It is significantly down from 23.2 per cent on June 6, 2008.
The return on deposits with maturity of more than one year had increased to 7.5-9.6 per cent in 2007-08 from 5.25-6.25 per cent in 2004-05.
It has reached 8.25-10 per at present and may go up by about 25 basis points before the end of the current financial year.
Associated Chambers of Commerce and Industry of India
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