Bank deposits seem to have lost their charm for the vast majority of savers, leaving banks scrambling for deposits. Indeed, finance minister Nirmala Sitharaman and Reserve Bank of India (RBI) governor Shaktikanta Das have urged banks to pull out all stops to garner more deposits.
Against this backdrop, RBI deputy governor Rajeshwar Rao’s recent speech on deposit insurance at an event is timely in more ways than one. Rao drove home…
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