Banks cut deposit rates
Calcutta, Nov. 30: Allahabad Bank today announced a downward revision of interest rates on domestic term deposits effective December 4. The rate on domestic deposit for 15 to 29 days will be 4.75 per cent and for 30 to 35 days will be 5 per cent. Meanwhile, the State Bank of Hyderabad will also revise interest rates on domestic term deposits and NRE deposits from Sunday.
Mumbai, Nov. 30: Foreign exchange reserves swelled by $ 564 million to touch a record high of $ 66,588 million for the week ended November 22.
New Delhi, Nov. 30: The government today said the free-on-board value of exports will be the basis for extending DEPB credit, an incentive to neutralise impact of import duties.