Zeebiz.com
Mumbai, Jul 15: Terming the impact of RBI's decision to deregulate savings accounts rates last year as ''insignificant'' for HDFC Bank, Managing Director and Chief Executive of the bank Aditya Puri has said depositors should be content with 4 percent interest offered by larger lenders.
''The deregulation of the savings account has not had a substantial impact on our growth,'' Puri told shareholders at the AGM over the weekend here.
''The savings account is a transaction account and there is a cost attached to it. So, four percent rate is fair and that's why you see most of the larger banks have not changed it,'' he said.