Fixed Deposit: According to the report of Crisil, the Reserve Bank of India may cut interest rates around October. In such a situation, if you want to get higher returns from FD, then you should book FD before October.
Fixed Deposit: Whenever it comes to saving, the name of FD comes first in your mind. Actually, your investment in Fixed Deposit i.e. FD is safe, as well as you get guaranteed returns. If you also want higher returns by investing in FD, then do this work quickly because the Reserve Bank of India (RBI) may cut rates in the coming days.
Credit rating agency Crisil said in its report that RBI may start reducing interest rates around October, provided there is no problem with external factors like weather conditions and international commodity prices. The credit rating agency further estimated that it expects to cut rates twice in the current financial year.
Recently, RBI did not make any change in interest rates
It said that the Monetary Policy Committee (MPC) had decided to maintain the rates in its recent announcements due to high food inflation. Climatic conditions such as weather events are changing frequently and need to be monitored. Going forward, it was anticipated that the macroeconomic environment would improve, creating a background for rate cuts.
Agriculture prospects are looking better
S&P’s arm said in its report, “The food challenge of rate cuts is expected to be reduced as agriculture prospects look better than last year. The monsoon has been above normal and sowing of major cereals has picked up. As soon as the agriculture prospects become clear by September, we expect it to clear the way for rate cuts.”
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