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Mumbai, Sept. 19

State Bank of India and Union Bank of India have hiked the interest rates on NRE (rupee) term deposits and FCNR (B) term deposits in various currencies, across various maturities, by 50 basis points.HDFC Bank and Bank of Rajasthan have also increased their NRE and FCNR (B) deposit rates for various currencies by 50 basis points across maturities from September 17. State Bank of Travancore has raised the interest rates for the same deposits with effect from September 18.

— Our Bureau

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