How rising bank FD rates a challenge for stock market, mutual fund investors?

Amid hawkish Reserve Bank of India (RBI) on interest rate hike, various Indian banks have announced fixed deposit (FD) interest rate hike in last few months. The State Bank of India (SBI) recently announced up to 80 bps FD rate hike whereas Canara Bank declared up to 135 bps retail FD rate hike. Apart from them, HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank are among those lenders that have hiked interest on term deposits recently. Today two state-owned banks, Canara Bank and Union Bank of India, offer 7 per cent fixed deposit interest rate.

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