Four among the six shuttered debt schemes of Franklin Templeton Mutual fund saw a fall in their Net Asset Values or NAVs after two entities - Nufuture Digital (India) Ltd (NDIL) and Future Ideas Co Ltd (FICL) – defaulted on payments.
Post the cut, EMIs on the loans linked to MCLR will come down giving relief to the borrowers. With the reduction in rates, ICICI Bank's one year MCLR is 7.45 per cent, and six month MCLR is 7.40 per cent.
An increase in FDs is an indication that investors expect interest rates to come down further. It is also reflective of risk-aversion. From the deposit numbers of the large banks that have declared their results so far, it is seen that the share of FDs is either rising or is steady.