Central theme of '24: Fight with inflation for growth

A rate cut will happen this year. When? It will depend on the growth-inflation dynamics as well as the US Fed action

The theme of a column on banking and finance that appears on January 1 is cast in stone — the New Year trends.

Before that, a quick recap of 2023.

The 10-year bond yield was 7.33 per cent at the beginning of the year; it saw a high of 7.445 per cent (on March 8) and low of 6.945 per cent (May 7), and closed the year at 7.175 per cent.

The banking sector’s deposit portfolio grew 14 per cent to Rs 197.92 trillion (year-on-year till December 15), and credit grew 20.2 per cent to Rs 158.05 trillion.

India’s foreign