State Bank of India has revised downwards the interest rate on domestic term deposits of 5 years and above duration to 8.5 per cent. So far, term deposits (of 5 years and above duration) of up to Rs 15 lakh and beyond Rs 15 lakh and up to Rs 1 crore carried interest of 8.75 per cent and 9 per cent, respectively. The new rates are effective from August 7, 2012.
The revision in deposit rate comes on the heels of the bank cutting home loans by up to 0.60 percentage points and car loans by 0.50 percentage points on Tuesday.
Services and Insurance Sectors Push DFM Index Higher
The DFM General Index inched up to reach at 2,323.34 points on Wednesday 22nd May 2013.The index spending most of the session in the green zone added 3.99 points or 0.17 percent.
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Key Sectors Turn QE Index Green
The QE Index continued pacing its way higher throughout the day to close its trading in the green territory at 9,085.9 on Wednesday 22nd May 2013, achieving 0.54 percent or 48.95 points for the sessi
ADX Index Dips but Volume Improves
The ADX General Index spending most of the session below the break – even line closed in the red at 3,503.38 points on Wednesday 22nd May 2013. The index trimmed 6.26 points or 0.18 percent for the e
Bonds seen consolidating after recent rally; lack of OMO hurts
Government bonds fell for a second consecutive session on Wednesday, continuing to retreat from a recent rally as the Reserve Bank of India has yet to announce bond purchases that had been widely exp