After having lowered its benchmark prime lending rate by 25 basis points last week, the state-run Canara Bank has said that it was considering to review its deposit rates as well. Similarly, another state lender, Bank of Baroda has also given an indication for further rate-cuts once its asset liability committee meets next week.
?Our ALCO (Asset and Liability Committee) may meet soon to decide on deposit rates,” said MBN Rao, CMD of Canara Bank on the sidelines of the announcement of the launch of his bank?s online equity trading platform. Currently, there was ample liquidity in the banking system, which was a strong indicator for the banks to go for the softening of deposit as well as lending rates, said Rao.
