After this increase, apart from big government and private banks, most of the non-banking finance companies (NBFCs) have also increased their FD rates.

If you also want to invest your money in FD, then Bajaj Finance Ltd has brought a great opportunity for you. Bajaj Finance has increased its FD rates for a time period of 44 months. General customers of Bajaj Finance will now get 7.85% interest on 44-month FDs and 8.1% for senior citizen customers. The increased new interest rates are applicable from January 20.

There may be an increase in FD rates in the future, while still many experts believe that this increase in FD rates is going to continue further. The major reason for this is to increase the report by RBI at frequent intervals to control the rising inflation. Bajaj Finance offers FDs to its customers for 15 months, 18 months, 22 months, 30 months, 39 months and 44 months.

Getting 7.7% interest here

Bajaj Finance, on the other hand, will give 7.4% interest to its senior citizen customers on cumulative FDs of 12 to 14 months. While Bajaj Finance will give 7.55% interest to its customers on 15-month special FD and 7.7% on 22-month special FD. Apart from this, you can also invest in FDs from 12 months to 60 months with Bajaj Finance.

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Addressing the program organized by the International Monetary Fund (IMF), Das said that the increasing level of debts and the constant pressure of increasing prices are a risk to economic growth.

In such a situation, both of them have to be controlled. He said that South Asian countries have faced many external shocks in the last few years. Volatility in financial markets, disruption of global supply chains by the COVID-19 pandemic, and food and energy crises triggered by the Russia-Ukraine war. Aggressively tightening monetary policies led to volatility in the financial market. He said that these external shocks have put constant pressure on prices in South Asian economies.

The RBI governor said, “However, inflation should ease further as commodity prices ease in the last few months and supply chain bottlenecks ease.” If inflation persists at elevated levels, then risks to the growth and investment outlook may increase.

Repo rate increased to control inflation

He said that the countries of this region are highly dependent on imported fossil fuels, so imported fuels become vulnerable to inflation. Das said, “Targeted supply-side interventions, fiscal, trade policy and administrative reforms have also become important tools along with credible monetary policy measures to bring down inflation.

” RBI itself took the step of increasing the repo rate five times in seven months to control inflation last year. During this, there was a total increase of 2.25 percent in the repo rate and it has now reached 6.25 percent. The RBI has got relief from the retail inflation rate coming down to 5.88 percent in November. “However, our view on deflation should be made keeping in mind the rising risks to the growth outlook amid concerns over a slowdown in global growth and trade,” he said.

He said that apart from inflation, the South Asian region should focus on reducing external debt vulnerabilities, focusing on more productive sectors, emphasizing energy security and increasing cooperation for a green economy. (Input: PTI)

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