Instead of jumping into the rate hike war, Kerala-based Federal Bank is in no hurry to increase its savings deposit rates. Rather, they may be planning to improve customers' service. This is despite the fact that its peer banks already upped savings deposit rates by 150-200 basis points.
The Reserve Bank of India is slated to announce its next mid-quarter review of the monetary policy on March 17. In an interview with CNBC-TV18, Shyam Srinivasan, MD & CEO, Federal Bank spoke on his expectations from the RBI.