Indian Bank has hiked its deposit rates and base rate. The deposit rates have been raised by 50 to 75 basis points on shorter maturities while base rate has been raised to 8.5%.
Bank Chairman and Managing Director TM Bhasin informed in August the bank had raised rates for deposits above two years to 7.75 percent.
According to bank release, the hike in interest rates has not been done for agricultural sector under interest subvention scheme and the Bank’s special schemes under poultry and fisheries.
It added even loans to micro industries have also been exempted partially.
Monday, October 4, 2010
Subscribe to:
Posts (Atom)
