BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Falling
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Rising
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Stable
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Volatile
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Detailed explanation-1: -Interest Rate in India averaged 6.36 percent from 2000 until 2022, reaching an all time high of 14.50 percent in August of 2000 and a record low of 4.00 percent in May of 2020.
Detailed explanation-2: -Interest Rate in India is expected to be 6.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the India Interest Rate is projected to trend around 6.00 percent in 2024, according to our econometric models.
Detailed explanation-3: -Why Are the Rates of Interest Falling? The interest rates are falling constantly in the last three to four years. The primary reason for the cut in interest rates is fragile economic conditions and rate cuts by central banks across the world for simulating the economy.
Detailed explanation-4: -Technology changes such as APIs, AI and ML, Cloud Computing, Open Source etc. have tremendously increased the reach of Banking to several hitherto unbanked areas, and also, reduced the cost of providing banking services.