Financial Daily from THE HINDU group of publications
Wednesday, Jul 14, 2004
Financial Daily from THE HINDU group of publications Wednesday, Jul 14, 2004 |
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Money & Banking
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Fixed Deposits PNB reduces FCNR rates Our Bureau
New Delhi , July 13 PUNJAB National Bank has lowered interest rates on Foreign Currency Non-Residents (Banks) scheme for dollar, pound and euro deposits with effect from Tuesday. The rate of interest on dollar deposits has been revised from 2.13 per cent to 2 per cent for maturities of one year to less than two years; from 2.92 per cent to 2.65 per cent for two years to less than three years, and from 3.45 per cent to 3.14 per cent for maturities of three years only. For pound deposits, it has been revised from 5.12 pc to 4.99 pct for maturities of one year to less than two years; from 5.20 pc to 5.05 pc for two years to less than three years, and from 5.27 pc to 5.12 pc for maturities of three years only.
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