Growth in bank deposits falls to five-decade low
Friday, May 4, 2018, 7:13 AM
Bank deposit growth fell to a five-decade low in fiscal year ended March 2018 as the demonetisation bonanza withered away and the lure of other savings instruments such as mutual funds and insurance eroded banking competitiveness. Data from the Reserve Bank of India (RBI) website shows aggregate deposits in the banking system grew a mere 6.7% in 2017-18, the lowest since fiscal 1963.
Dont believe rumours, your money is safe with us says PNB
Monday, April 2, 2018, 7:47 PM
Facing heat over the nearly Rs 13,000 PNB fraud, Punjab National Bank on Monday said money of customers is safe and asserted that there would be zero tolerance towards unethical practices. Urging customers not to believe in any rumours, the bank assured that they can withdraw or deposit their money anytime.
SBI revises deposit rates for various tenors by up to 0.75%
Wednesday, February 28, 2018, 4:37 PM
For retail deposits, below Rs.1 crore, rates have been increased by up to 0.50%. Deposits maturing in 1yr to less than 2 yrs, rates have been raised by 0.15 % - 6.40 % from 6.25 % earlier. For 2 yrs to10 yrs have been changed by 0.50 % - 6.50 % from 6%. For Rs.1 crore - Rs.10 crore deposits rates raised by 0.50%.