As rates slide, who will grab the savings pie? MFs, insurers?

For decades, Indian banks were assured of funds owing to the time-tested parking of household savings in the ‘safe fixed deposits’, irrespective of what the savers got in return. As the Reserve Bank of India (RBI) takes market rates to multi-year lows, Indian banks may be staring at an unprecedented scenario, as alternatives competing for the same pie step on the gas with the possibilities of higher returns. Last month, the RBI reduced the repo