MUMBAI: The Reserve Bank today allowed cooperative and primary urban
cooperative banks to fix their interest rates on various non-resident
deposit schemes.
Extending the ambit of its recent decision to deregulate deposit rates, RBI said, "Banks are free to determine their interest rates on both savings deposits and term deposits of maturity of one year and above under Non-Resident (External) Rupee deposit accounts and savings deposits under Ordinary Non-Resident accounts with immediate effect."
Courtesy : Economic Times
Extending the ambit of its recent decision to deregulate deposit rates, RBI said, "Banks are free to determine their interest rates on both savings deposits and term deposits of maturity of one year and above under Non-Resident (External) Rupee deposit accounts and savings deposits under Ordinary Non-Resident accounts with immediate effect."
Courtesy : Economic Times
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