September 8, 2010 10:45 AM EDT
India's central bank has not set any timeframe for deregulation of deposit rates on savings bank accounts, Deputy Governor Usha Thorat said on Wednesday.
She was speaking on the sidelines of a banking seminar.
"Given the level of interest rates on bank deposits, common people are often lured by higher interest rates provided by alternative channels in the informal market," Thorat had earlier said in a speech.
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