Raise in deposit rates

This is to fool every one.The year end for banks is 31st March and all banks will raise deposit rates for short term period only .By first week of April all rates will come down. This is the window dressing banks resort to every year and RBI keeps quiet although window dressing is objected to. Banks want to show an improved performance which is judged by the year end figures and for that they enhance the deposit rates keeping in mind high net worth individuals and corporates.This is an year end exercise and PSBs indulge in more of such activities as the top executives have a good stake in terms of bonus and career progression. They also give short term loans so that the same funds will be kept as deposits. Even some banks incur cash losses to project a better image. Dr.T.V.Gopalakrishnan(This is in response to a news item that OBC increases the deposit rates appeared in ET dated 6/2/13)