Return Of Normalcy In Household Savings, Says RBI Amid Reports Of Fund Transfer To F&O

In a big statement countering its earlier fears that household savings were being ploughed into speculative activities like derivatives trading in the stock market, the Reserve Bank of India (RBI) has said that household financial savings are being drawn down to normal levels. Adding that there is a shift from financial savings to physical savings, the Indian central bank said that it is witnessing a return of normalcy in household savings. RBI also said that it was upto the banks to decide deposit rates based on their own needs and banks needed to use their branches, innovative products to garner deposits.