OTHER GROUP COMPANIES
market

RBI: Banks can formulate interest rate policies

Banks can formulate their own interest rate policies on foreclosure of term deposits for better asset-liability management

May 29, 2012 12:54 IST | India Infoline News Service
The RBI (Reserve Bank of India) said that banks can formulate their own interest rate policies on foreclosure of term deposits for better asset-liability management. The RBI said this in a notification issued on 29th May.
Earlier, the central bank had said banks cannot impose penalty on customers by reducing interest rates due on the term deposit provided the individual reinvests the money in another scheme which is longer than the remaining period of the original deposit.

Invest wise with Expert advice

FEATURED ARTICLE

BLOGS

Open Demat Account

Invest wise with Expert advice

By continuing, I accept the Terms & Conditions and agree to receive updates on Whatsapp