MUMBAI: The Reserve Bank of India (RBI) on Wednesday indicated that interest rates have bottomed out and yields are inching up in debt instruments as well as deposits, in clear indications that there may not be any rate cuts in the near future.
“Scheduled commercial banks have effected complete pass-through of the policy rate cuts of 115bps (100 basis points = 1 percentage point) to weighted average lending rate (WALR) on fresh rupee loans as well as outstanding loans since March 2020,” the central bank said in the monthly state of the economy report said. WALR is the average rate for loans.
