Allahabad Bank increases fixed deposit rates by 2.25 per cent

The Oldest Joint Stock Bank of the Country, Allahabad Bank was founded on April 24, 1865 by a group of Europeans at Allahabad. At that juncture Organized Industry, Trade and Banking started taking shape in India. Thus, the History of the Bank spread over three Centuries - Nineteenth, Twentieth and Twenty-First.

State-owned Allahabad Bank today increased fixed deposit rates across various maturities by up to 225 basis points or (2.25 per cent).

The bank has decided to revise the interest rate ranging from 25 basis points to 225 basis points on various term deposits, Allahabad Bank informed the Bombay Stock Exchange.

The new rates on fixed deposit below Rs 5 crore will be effective from June 9, it said.

Venkataraman takes charge as Karur Vysya CEO * Private-sector lender Karur Vysya Bank today said K Venkataraman has taken charge as the managing director and chief executive officer.

Prior to this, Venkataraman was managing director of SBI Global Factors Ltd, Karur Vysya Bank informed the Bombay Stock Exchange.

Source: [msn news]