The revised rates for deposits came into effect from May 15, 2024.
In the retail term deposits below ₹2 crore, the revised rate is 5.5 per cent, up from 4.75 per cent for the 46-179 days maturity bucket.
The new rate for 180-210 day's bracket is 6.0 per cent as against 5.75 per cent and in 211 days to less than one year is 6.25 per cent as against 6.0 per cent.
In case of bulk deposits, those of 2 crore and above, the increase was between 50 basis points across short, medium buckets.
This story is from the May 16, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the May 16, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
MCA president Amol Kale dies of cardiac arrest at 47
Mumbai Cricket Association president Amol Kale has died of a cardiac arrest in New York after attending the T20 World Cup match between India and Pakistan.
Astronauts' health focus of study on multidrug-resistant pathogens
Researchers from IIT Madras and R NASA's Jet Propulsion Laboratory (JPL) are studying the behaviour, adaptation, and evolution of multi-drug resistant pathogens about 400 km above the earth's surface at the International Space Station (ISS).
COST OF KEEPING COOL
With ACs, fridges, and space cooling becoming necessities, experts point out that ambient heat increases as more cooling equipment is installed
Pricing challenge may weigh on pharma stocks
The tailwind of low price erosion in the US generics market may be reversing slowly, caution analysts.
Kotak MF launches special opportunities fund
Kotak Mutual Fund (MF) on Monday announced the launch of Kotak Special Opportunities Fund.
Proposed norms may lead to big F&O churn
Analysts expect over two dozen exits, 75 entrants
Sensex, Nifty breach record levels but settle lower amid profit booking
Benchmark equity indices Sensex and Nifty ended lower on Monday after hitting their all-time high levels in early trade amid selling in blue-chip IT stocks and HDFC Bank.
Blackstone mops up ₹6,736 crore from 15.1% stake sale in Mphasis
Blackstone on Monday sold 15.1 per cent stake in mid-tier IT firm Mphasis via block deals.
ABSL MF quant fund to tap best ideas of top MFs
Aditya Birla Sun Life (ABSL) Mutual Fund (MF) has launched its quant fund, which will look to invest in top ideas of larger fund houses after filtering on the basis of quality and momentum factors.
Equity MFs saw record ₹34,000 cr inflows in May
Surge in investments spurred by rise in SIPS, HDFC MF NFO