 "Deposit interest, rate cuts")
Don't want to miss the best from Business Standard?
Interest rates on fresh rupee deposits of banks declined sharply by 35 basis points (bps) in April compared to March, while rates on outstanding deposits fell 2 bps, according to data released by the Reserve Bank of India (RBI).
During the same period, interest rates on fresh rupee loans fell by 9 bps, while rates on outstanding rupee loans declined by 7 bps. The one-year median marginal cost of funds-based lending rate (MCLR) was revised downward by 5 basis points.
This signals the transmission of the policy rate cut to lending and deposit rates. The RBI’s Monetary Policy Committee (MPC) has cut the repo rate by 50 bps to 6 per cent. The RBI has also been conducting open market operations (OMOs) to maintain surplus liquidity in the banking system and ensure transmission of cut in policy rates to deposit and lending rates can happen smoothly.
RBI data shows the weighted average domestic term deposit rate (WADTDR) on fresh rupee term deposits of banks stood at 6.30 per cent in April, compared to 6.65 per cent in March.
ALSO READ: Cash market turnover hits 8-month high in May on market recovery
The WADTDR on outstanding rupee term deposits of banks fell to 7.01 per cent in April from 7.03 per cent in March.
Also Read
 "Stock Market, Market, Crash, Funds, up, Stock, Gain, Lost, decline, statistic, Crisis, Capital, BSE, NSE")
 "Bank of England, England")
 "RBI, Reserve Bank of India")
 "Economic Affairs Secretary Ajay Seth, Ajay Seth")
 "Saugata Bhattacharya, external member of the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) | Photo: website/ cprindia.org")
On the lending side, the weighted average lending rate (WALR) on fresh rupee loans of banks stood at 9.26 per cent in April 2025, down from 9.35 per cent in March 2025. The WALR on outstanding rupee loans declined to 9.70 per cent in April 2025 from 9.77 per cent in March 2025.
On the lending side, the weighted average lending rate (WALR) on fresh rupee loans of banks declined to 9.26 per cent in April from 9.35 per cent in March while WALR on outstanding rupee loans dropped to 9.70 per cent in April from 9.77 per cent in March.
The one-year median marginal cost of funds based lending rate, or MCLR, of banks moderated to 8.95 per cent in May, from 9 per cent in April.
 "NITI Aayog CEO BVR Subrahmanyam")
 "Fiscal Deficit")
 "FY25 stock market performance, Nifty FY25 returns, Sensex FY25 performance, Nifty Midcap 100 gains, Nifty Smallcap 100 returns, gold price surge FY25, rupee depreciation FY25, Indian equity market trends, foreign portfolio investors selling, FPI outf")
 "GDP, India GDP")
 "cryptocurrencie")
