FD Update: Get FD done before this date, because RBI may reduce interest rates soon, then you will incur a loss..

Whenever there is talk of saving, the name of FD comes first in your mind. Your investment in Fixed Deposit i.e. FD is safe, and along with that, you get guaranteed returns. If you also want more returns by investing in FD, then do this work quickly because the Reserve Bank of India (RBI) may cut rates in the coming days.

Credit rating agency Crisil said in its report that RBI may start reducing interest rates around October, provided there is no problem with external factors like weather conditions and international commodity prices. The credit rating agency further estimated that it expects to cut rates twice in the current financial year.

Recently RBE did not make any change in interest rates
It said that the Monetary Policy Committee (MPC) had decided to maintain the rates in its recent announcements due to high food inflation. Climatic conditions such as weather events are changing frequently and need to be monitored. Going forward, it was anticipated that the macroeconomic environment would improve, creating a backdrop for a rate cut.

Agriculture prospects are looking better
S&P's arm said in its report, "The food challenge of a rate cut is expected to be less as agriculture prospects are looking better than last year. The monsoon has been above normal and the sowing of major cereals has picked up. As soon as the agriculture prospects become clear by September, we expect it to pave the way for a rate cut."

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