Savings account interest rate offered by public sector banks to remain unmoved
By Neelima Shankar
Mar 7, 2012
Print    Email    RSS   

The Reserve Bank of India has deregulated the savings bank account interest rate. Few private sector lenders responded immediately to the situation and raised their interest rates. However, the interest rate offered by the public sector lenders on the savings accounts has remained unmoved.

The Managing Director of State Bank of Hyderabad, Mr. M Bhagavantha Rao said, "There has been no impact of the hike in interest rate by a few players following deregulation. We have, in fact, added significant portfolio under SB accounts recently."

The Chairman and Managing Director of Indian bank, Mr. T.M. Bhasin said, "We have not seen any migration from our savings bank account. We have seen 16 per cent growth in the nine months till December 2011."

He also said, "I don't think the hike in savings bank rate will be done any time soon."

(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Know about corporate fixed deposits
FD: Opportunity for retirees to diversify...
Manage your FD in a better way
Recurring Deposits or Systematic...
Calculate your tax

Wazifa for inter caste love marriage -...
LovE MArRiAgE {{-09799005597}} VaShiKaRaN SpEciaLisT...
LovE MArRiAgE {{-09799005597}} VaShiKaRaN SpEciaLisT...
Just Call +91- 7385999994 VIP/Elite/Hot Pune Call...
PUNE ! Call Girls In 08554976404 •=• Viman Nagar...
[[ 9I3O4O3331 =•= 9O49O92296 ]] Puℕe Caℓℓ...

Federal Bank launched V connect for its customers Feb 12, 2015
Andhra Bank on expansion mode Feb 11, 2015
Dena Bank earned a profit of 13%. Feb 9, 2015
Banks expected to cut down the rates Feb 5, 2015
RBI kept the rates unchanged Feb 4, 2015
News Archive