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Bangalore, June 18

Public sector Vijaya Bank hiked its time deposit rates by 30 basis points to 8.80 per cent for tenures less than 2 years. A Vijaya Bank release said that the rate hike was taken in view of the narrowing liquidity gaps under specific maturity slabs. The bank continued to show high advance growth, higher than the industry growth rate. The rate hike was taken to accelerate resource mobilisation to sustain the growth. However, there was no hike in lending rates. The release ad ded that a hike in lending rates would be taken only after assessing the market trends and the policy environment.

— Our Bureau

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