Dhanlaxmi Bank , a leading South Indian private sector bank has announced a hike in fixed deposit rates. The bank raised the deposit rates by up to 50 basis points or 0.50 percent over various maturities on deposits between Rs 15 lacs to 1 crore.
Earlier the bank hiked the deposit rates on 20th January 2011. A few other banks have already raised their deposit rates in reaction to the announcement of the tightening of the monetary policy by The Reserve Bank of India.
The new rates are in effect from today itself.
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