Indian policymakers may be underestimating the risk posed to the Indian economy by global macro conditions that have turned sharply adverse. A recent paper in the Reserve Bank of India
Unknown unknowns
Risk of a global shock will increase with higher rates
 "Deposit-heavy banks will gain most from SBI's savings rate cut")
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Over 80 per cent of savings accounts are estimated to have deposits of less than Rs 1 crore. Therefore, SBI is clearly headed for an improvement in financials from the September quarter onwards as Monday's announcement takes effect from July 31.
First Published: Jun 22 2022 | 11:09 PM IST
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