PNB revises fixed deposit (FD) rates for second time in a month. Check out the latest rates here
Posted on 2nd August 2019 |
.jpg) |
| Punjab National Bank (PNB) has revised interest rates on fixed deposits on select maturities with effect from 2 August 2019. PNB has lowered the interest rates by up to 50 basis points on maturity periods such as 7-14 days, 15-29 days, 30-45 days, 46-90 days and 91-179 days. On deposits maturing in 7-45 days, PNB is offering an interest rate of 5% to the general public and 5.5% to senior citizens on fixed deposits of up to ₹2 crore. Previously, the public sector bank paid interest rates of 5.50% and 6% on these FD maturities respectively. PNB's rate cut comes just days ahead of the RBI Monetary Policy Review meet on 7 August. In deposits maturing in 46 days to 179 days, PNB has reduced the interest rate from 6.25% to 5.75%. The rates of deposits maturing in 180 days to 270 days remain unchanged at 6.25%. For 271 days to less than one year, the bank has reduced the interest rate by 20 basis points, these term deposits will now fetch an interest rate of 6.30%. On 333 days, PNB had reduced the interest rate from 6.75% to 6.30%. For deposits maturing in one year, PNB has reduced the interest rate by 5 basis points. The bank will offer an interest rate of 6.75%. For term deposits maturing in 444 or 555 days, PNB has reduced the interest rate by 10 percentage points. Now the bank is offering an interest rate of 6.75% on these deposits. Earlier, the bank had revised the interest rate on its maturities on 1 July 2019. Senior citizens will continue to get an additional rate of interest of 0.5 per cent on their deposits. Country’s largest lender State Bank of India (SBI) had also reduced interest rates on retail fixed deposits by up to 75 basis points (bps), with effect from 1 August. Many major banks including HDFC Bank, Axis Bank, Bank of Baroda and Kotak Mahindra Bank revised their interest rates in the month of July |
|
|
|
|
Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
.jpg) |
Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
|
|
Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
.jpg) |
The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
|
|
LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
.jpg) |
In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
|
|
Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
.jpg) |
Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
|
|
World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
.jpg) |
In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
|
|
|
|
| Be the first person to write a business review for PNB revises fixed deposit (FD) rates for second time in a month. Check out the latest rates here |
|
|
|
