Indian Bank Raises Deposit Rates by 15 Basis Points as Funding Pressures Persist
Indian Bank has increased deposit rates by 15 basis points, signalling that the lender is still working to stabilise its funding profile after a quarter marked by slower term-deposit mobilisation and a sharp reduction in bulk deposits. The move comes after managing director Binod Kumar said the bank did not have surplus liquidity and had relied on regulatory flexibility to raise foreign currency non-resident-bank deposits.
