RBI allows co-op banks to fix NRE deposit rates
Moneylife Digital Team 19 January 2012

RBI has allowed cooperative and primary urban cooperative banks to fix interest rates on various non-resident deposit schemes. Extending the ambit of its recent decision to deregulate deposit rates, RBI said, “Banks are free to determine their interest rates on both savings deposits and term deposits of maturity of one year and above under non-resident (external) rupee deposit accounts and...

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