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RBI officers' credit society has Rs.105 crore in PMC Bank

Thursday, September 26, 2019, 4:29 PM

The Reserve Bank Officers' Cooperative Credit Society (RBOCCS) has fixed deposits totalling Rs.105 crore with Punjab and Maharashtra Cooperative (PMC) Bank, as per the society's FY19 annual report. On Tuesday, the RBI directed that the customers of the Mumbai-based bank can withdraw only Rs.1,000 in six months. The RBI imposed the restriction amid a probe into PMC Bank's accounting lapses.
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SBI reduces interest rate on fixed deposits across all maturities

Monday, July 29, 2019, 2:58 PM

State Bank of India(SBI), in view of the falling interest rate scenario and surplus liquidity, has announced a reduction in fixed deposit interest rates across all maturities. In a press release, the bank stated that the new rates will be effective from August 1, 2019. SBI has cut rates on retail term deposits below Rs.2 crore and on bulk term deposits above Rs.2 crore.
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SBI Hikes Fixed Deposit (FD) Interest Rates With Effect From Today

Wednesday, November 28, 2018, 4:34 PM

India's largest bank SBI has increased fixed deposit (FD) interest rates for select maturity periods with effect from today. FDs below Rs.1 crore with maturity period of one to two years will fetch 6.8% as compared to 6.7% earlier. Similarly, the interest rate on FDs with maturity period of two to three years has been hiked from 6.75% to 6.8%.

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