Retail investors are caught between two contrasting moves in deposit rates. Bajaj Finance has hiked deposit rates by up to 45 basis points to accelerate fundraising. Meanwhile, Shriram Finance plans to cut rates by 15–35 bps after a rating upgrade. The divergence highlights how firms manage funding and credit perceptions differently.
RBI data shows a clear uptick in Indian bank deposit pricing. The weighted average domestic term deposit rate (WADTDR) on fresh rupee deposits climbed 42 basis points to 6.07% in March 2026, up from 5.65% in February. The move suggests banks are shifting toward an upward repricing cycle for new deposit inflows.
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IDFC First Bank expects no immediate rise in deposit rates after recent cuts, signaling stability on funding costs. The lender says microfinance stress is now under control while it concentrates on growth across mortgage, vehicle and consumer loans. It also plans to expand rural banking and its priority sector loan book, alongside technology and mobile app investments for future growth.
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