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With a view to bringing down the cost of deposits, Vijaya Bank, the Bangalore-headquartered public sector bank, has reduced interest rates on its domestic term deposits.
The reduction of 5 basis points to 50 basis points is in six slabs of different maturity periods starting from 46 days to one year for deposits of ₹1 crore and above with effect from July 3, the bank said in a statement.
The Vijaya Bank scrip gained 2.57 per cent to close higher at ₹55.85 on the BSE on Wednesday.
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