October 2021 – Page 68 – IFSCCodeof.in

Dish TV rejects Yes Bank’s call for EGM, BFSI News, ET BFSI

October 14, 2021 root Banking & Finance

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Reserve Bank of India – Press Releases

October 14, 2021 root Press Releases

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Top 4 Private Sector Banks Offering Returns Over 6% On Fixed Deposits of 2 Years

October 14, 2021 root Personal Finance

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RBL Bank

RBL Bank is currently providing the interest rates stated below for Domestic, NRO, NRE, and Flexi Fixed Deposits of less than Rs 3 Cr maturing in 2 years.

Period of deposit	Interest Rates p.a.	Senior Citizen Interest Rates p.a.
7 days to 14 days	3.25%	3.75%
15 days to 45 days	3.75%	4.25%
46 days to 90 days	4.00%	4.50%
91 days to 180 days	4.50%	5.00%
181 days to 240 days	5.00%	5.50%
241 days to 364 days	5.25%	5.75%
12 months to less than 24 months	6.00%	6.50%
Source: Bank Website, W.e.f. September 01, 2021

IndusInd Bank

IndusInd Bank is now offering the following interest rates on Domestic/NRO/NRE/Senior Citizen Fixed Deposits maturing in two years.

Tenure	Regular Interest Rates In % (p.a.)	Senior Citizen Interest Rates In % p.a.
7 days to 14 days	2.5	3
15 days to 30 days	2.75	3.25
31 days to 45 days	3	3.5
46 days to 60 days	3.25	3.75
61 days to 90 days	3.4	3.9
91 days to 120 days	3.75	4.25
121 days to 180 days	4.25	4.75
181 days to 210 days	4.6	5.1
211 days to 269 days	4.75	5.25
270 days to 354 days	5.5	6
355 days to 364 days	5.5	6
1 year to below 1 Year 6 Months	6	6.5
1 Year 6 Months to below 1 Year 7 Months	6	6.5
1 Year 7 Months to below 2 Years	6	6.5
Source: Bank Website, W.e.f. July 23rd, 2021

Yes Bank

On resident term deposits of less than Rs 2 crore maturing within the next two years. Depositors at Yes Bank can earn the interest rates as shown below.

Period	Regular Interest Rates	Senior Citizen Interest Rates
7 to 14 days	3.25%	3.75%
15 to 45 days	3.50%	4.00%
46 to 90 days	4.00%	4.50%
3 months to	4.50%	5.00%
6 months to	5.00%	5.50%
9 months to	5.25%	5.75%
1 year	5.75%	6.25%
18 Months to	6.00%	6.50%
Source: Bank Website, W.e.f 5th August 2021

Bandhan Bank

Bandhan Bank is providing the following interest rates on Retail Domestic / Non-Resident Rupee Term Deposits of less than Rs 2 Cr maturing in 2 years to both regular and senior persons.

Period	Regular Interest Rates	Senior Citizen Interest Rates
7 days to 14 days	3.00%	3.75%
15 days to 30 days	3.00%	3.75%
31 days to Less than 2 months	3.50%	4.25%
2 months to less than 3 months	3.50%	4.25%
3 months to less than 6 months	3.50%	4.25%
6 months to less than 1 year	4.50%	5.25%
1 year to 18 months	5.50%	6.25%
Above 18 months to less than 2 years	5.50%	6.25%
Source: Bank Website, W.e.f. June 7, 2021

Story first published: Thursday, October 14, 2021, 12:45 [IST]

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2 Stocks to Buy As Suggested By Motilal Oswal

October 14, 2021 root Personal Finance

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Leading the digital insurance and credit marketplace

In FY08, PB Fintech Limited began operations as an insurance web aggregator. It then moved into the credit sector to provide easy access to credit and other financial goods. Despite the fact that the company is not listed on the exchange, the brokerage has conducted research on it.

Using the power of technology, data, and creativity, the company has built India’s largest online marketplace for insurance and financing products. The company provides online insurance and loan product purchases based on research. It also makes it easier for partners to innovate and create personalised products for customers by exploiting substantial data insights.

Target and Valuation: Investment arguments and growth driver

Customers remember PB Fintech because of its overwhelming market share and great brand recall. As a result, it has become the go-to place for comparing and researching financial goods. This has allowed it to build a big customer base, as well as draw repeat business from existing consumers, thanks to its excellent product offering.

“We estimate a revenue CAGR of ~40% over FY21-24, led by 42% growth in premium income. We project the EBITDA / contribution margin to expand to 4.8%/52.1%. PB Fintech would continue to invest in the business, which would support the growth momentum. This coupled with improving operating metrics, would enable the company to trade at higher multiples.

Thus, at proposed valuations of USD5-6b, the implied P/Sales multiple corresponds to 16-19x on FY24E. We believe that lower penetration, along with the adoption of digital channels, would be the key growth driver over the medium term,” the brokerage has said.

Tata Motors

Motilal Oswal sees a nearly 11% upside on the stock of Tata Motors from the current market price The firm has set a target price of Rs 460 on the stock.

JLR’s 2QFY22 wholesale volumes (including CJLR JV) fell 14% YoY to 78.25k units. Jaguar wholesales down 23% to 13.9k units while LR fell 12% to 64.3k units. This indicates that the mix is weaker than expected.

Looking ahead, the chip shortfall will continue to be dynamic and difficult to predict; nonetheless, the business anticipates the shortage to ease progressively over the next 12 months.

Valuation and view on Tata Motors

“All of TTMT’s three businesses are on the path to recovery. While the India CV business would see cyclical recovery, the India PV business is undergoing structural recovery. JLR is also witnessing cyclical recovery, supported by a favorable product mix. However, supply-side issues would defer the recovery process. While there would be no near-term catalysts from the JLR business, the India business would see continued recovery. The stock trades at 11.9x FY23E consol. EPS and 2.3x P/B. Maintain Buy, with Target Price of Rs 460 (Sep’23E SOTP-based), the brokerage has said.

Mr Lennard Hoornik, Jaguar Land Rover – Chief Commercial Officer, stated, “The global semiconductor supply issue represents a significant near-term challenge for the industry which will take time to work through. However, it’s encouraging we were still able to grow sales of the Land Rover Defender in Q2. Moreover, we are delighted to have a record Company order book demonstrating the underlying demand for our products which we will satisfy when the semiconductor supply recovers.”

Disclaimer

The above 2 stocks to buy are picked from the report of Motilal Oswal. Please note investing in stocks is subject to market risks and one needs to be cautious at this point of time as markets have gone-up sharply. Neither the author, nor Greynium Information Technologies Pvt Ltd would be responsible for losses incurred based on a decision made

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AU Small Finance Bank Revises Interest Rates On FD: Check Latest Rates Here

October 14, 2021 root Personal Finance

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Investment

oi-Vipul Das

|

Published: Thursday, October 14, 2021, 11:19 [IST]

For both regular customers and elderly individuals, AU Small Finance Bank offers a variety of fixed deposit alternatives. Regular Fixed Deposits, 5-Year Tax Saving Fixed Deposits, and Sweep-In Facility are the deposits on which the bank is now offering guaranteed interest rates and 0.75 percent p.a. additional rate on fixed deposit placed by Senior Citizens. The bank updated its interest rates on fixed deposits, recurring deposits, and Senior Citizens Fixed Deposits today, commencing October 14, 2021. Check out the most recent FD rates of the bank below.

AU Small Finance Bank Regular Fixed Deposit Interest Rates

The latest applicable interest rates for domestic & NRE/NRO Retail Fixed Deposits of less than Rs 2 Cr are as follows.

Tenure Interest Rates Interest Rates (Annualized)

7 Days to 1 Month 15 Days 3.50% –

1 Month 16 Days to 3 Months 4.00% –

3 Months 1 Day to 6 Months 4.35% 4.42%

6 Months 1 Day to 12 Months 4.85% 4.94%

12 Months 1 Day to 15 Months 5.85% 5.98%

15 Months 1 Day to 18 Months 5.75% 5.88%

18 Months 1 Day to 24 Months 5.75% 5.88%

24 Months 1 Day to 36 Months 6.00% 6.14%

36 Months 1 Day to 45 Months 5.75% 5.88%

45 Months 1 Day to 60 Months 5.75% 5.88%

60 Months 1 Day to 120 Months 6.00% 6.14%

Source: Bank Website, W.e.f. 14th October 2021

AU Small Finance Bank Fixed Deposit Interest Rates For Senior Citizens

AU Small Finance Bank is currently offering elderly people the following interest rates on fixed deposits of less than Rs 2 crore.

Tenure Interest Rates Interest Rates (Annualized)

7 Days to 1 Month 15 Days 4.00% –

1 Month 16 Days to 3 Months 4.50% –

3 Months 1 Day to 6 Months 4.85% 4.94%

6 Months 1 Day to 12 Months 5.35% 5.46%

12 Months 1 Day to 15 Months 6.35% 6.50%

15 Months 1 Day to 18 Months 6.25% 6.40%

18 Months 1 Day to 24 Months 6.25% 6.40%

24 Months 1 Day to less than 36 Months 6.50% 6.66%

36 Months 6.75% 6.92%

36 Months 1 Day to 45 Months 6.25% 6.40%

45 Months 1 Day to 60 Months 6.25% 6.40%

60 Months 1 Day to 120 Months 6.75% 6.92%

Source: Bank Website, W.e.f. 14th October, 2021

AU Small Recurring Deposits Interest Rates

The relevant interest rates for Resident Individuals / NRO / NRE Recurring Deposits to both ordinary and elderly people are mentioned below.

Tenure ROI p.a. Senior Citizen ROI p.a.

3 Months 4.00% 4.50%

4 Months to 6 Months 4.35% 4.85%

7 Months to 12 Months 4.85% 5.35%

13 Months to 15 months 5.85% 6.35%

16 Months to 18 months 5.75% 6.25%

19 Months to 24 Months 5.75% 6.25%

25 Months to 35 Months 6.00% 6.50%

36 Months 6.00% 6.75%

37 Months to 45 Months 5.75% 6.25%

46 Months to 60 Months 5.75% 6.25%

61 Months to 120 Months 6.00% 6.75%

Source: Bank Website, W.e.f. 14th October 2021

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Rupee gains 12 paise to 75.25 against US dollar in early trade

October 14, 2021 root Banking & Finance

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The Indian rupee appreciated 12 paise to 75.25 against the US dollar in opening trade on Thursday, buoyed by heavy buying in domestic equities and fresh foreign fund inflows.

Weakness of the American currency in the overseas market also helped the domestic unit, forex dealers said.

However, higher crude prices restrained the rupee to gain momentum, they added.

At the interbank foreign exchange, the domestic unit opened strong at 75.27 against the US dollar, then gained further ground to 75.25, registering a rise of 12 paise against the previous close.

In initial deals, the rupee was trading in a tight range of 75.25 and 75.27 with a positive bias against the greenback.

The domestic had settled at 75.37 against the US currency on Wednesday.

Domestic equities

On the domestic equity market front, the BSE Sensex was trading 327.18 points or 0.54 per cent higher at 61,064.23, while the broader NSE Nifty surged 114.05 points or 0.63 per cent to 18,275.80.

Foreign institutional investors emerged as net buyers in the capital market on Wednesday, as they purchased shares worth ₹937.31 crore, as per exchange data.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, slipped 0.03 per cent to 94.05.

Global oil benchmark Brent crude futures rose 0.70 per cent to $83.76 per barrel.

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Empanelment of Contractors under various categories for Civil, Electrical & Composite Works in its office & residential premises at Pune

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College of Agriculture Banking Pune invites sealed applications for Empanelment of Contractors under various categories for Civil, Electrical & Composite works in its office & residential premises at Pune. All interested Contractors/Suppliers may download all the details from RBI website (https://www.rbi.org.in ).

The Schedule of the tender is given below:

Name of Department Premises Section

Name of Work Empanelment of Contractors under various categories for Civil, Electrical & Composite Works in its office & residential premises at Pune

View Tender Date 14/10/2021

Start Date 14/10/2021

Last Date for submission of applications 5.00 PM of 08/11/2021

Principal

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Top 5 Banks Promising More Than 7% Returns On FDs For Senior Citizens

October 14, 2021 root Personal Finance

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North East Small Finance Bank

North East Small Finance Bank is guaranteeing a maximum interest rate of 7.50 percent to elderly persons on deposits maturing in 777 days for deposits less than Rs 2 Cr. The current interest rates on fixed deposits for senior citizens are provided below.

Tenure Senior Citizen Rate (Per Annum) In %

7-14 Days 3.5

15-29 Days 3.5

30-45 Days 3.5

46-90 Days 4

91-180 Days 4.5

181-365 Days 5.5

366 days to 729 days 7.25

730 days to less than 1095 7.25

777 days 7.5

1096 days to less than 1825 days 7

1826 days to less than 3650 days 6.75

Source: Bank Website, Effective from 19th April 2021

Suryoday Small Finance Bank

For deposits maturing in less than 3 years, Suryoday Small Finance Bank is promising the highest interest rate of 7.30% to senior citizens. The most recent interest rates on fixed deposits for senior citizens are as follows.

Period Senior Citizen Rate (Per Annum)

7 days to 14 days 3.25%

15 days to 45 days 3.25%

46 days to 90 days 4.25%

91 days to 6 months 4.75%

Above 6 months to 9 months 5.25%

Above 9 months to less than 1 Year 5.75%

1 Year to 1 Year 6 Months 6.75%

Above 1 Year 6 Months to 2 Years 6.75%

Above 2 Years to less than 3 Years 6.50%

3 Years 7.30%

Above 3 Years to less than 5 Years 6.50%

5 Years 7.00%

Above 5 years to 10 years 6.00%

Source: Bank Website, ( Effective: From September 09, 2021 )

Utkarsh Small Finance Bank

Utkarsh Small Finance Bank is guaranteeing elderly residents 7.25 percent returns on deposits maturing in 700 days. Here are the bank’s latest fixed deposit interest rates for deposits of less than Rs 2 Cr.

Tenure Senior Citizens

7 Days to 45 Days 3.50%

46 Days to 90 Days 3.75%

91 Days to 180 Days 4.50%

181 Days to 364 Days 6.25%

365 Days to 699 Days 6.75%

700 Days 7.25%

701 Days to 3652 Days 6.50%

Source: Bank Website, W.E.F. July 01, 2021

Jana Small Finance Bank

Jana Small Finance Bank promises a maximum interest rate of 7.25 percent to senior citizens on deposits maturing in 3 to less than 5 years for deposits of less than Rs 2 Cr. The latest interest rates on fixed deposits for senior citizens are as follows.

Period Senior Citizen FD Interest Rate (p.a.)

7-14 days 3.00%

15-60 days 3.50%

61-90 days 4.25%

91-180 days 5.00%

181-364 days 6.00%

1 Year[365 Days] 6.75%

> 1 Year – 2 Years 7.00%

>2 Years-3 Years 7.00%

> 3 Year- 7.25%

5 Years[1825 Days] 7.00%

> 5 Years – 10 Years 6.50%

Source: Bank Website, Effective Date 07/05/2021

Yes Bank

Yes Bank is currently the only private sector bank offering a 7.25 percent interest rate on domestic deposits of elderly persons maturing in 5 years to less than 10 years. The bank’s fixed deposit interest rates were last updated on August 5, 2021, and are as follows.

Period Senior Citizen FD Interest Rate (p.a.)

7 to 14 days 3.75%

15 to 45 days 4.00%

46 to 90 days 4.50%

3 months to 5.00%

6 months to 5.50%

9 months to 5.75%

1 year 6.25%

18 Months to 6.50%

3 Years to 7.00%

5 Years to 7.25%

Source: Bank Website, w.e.f 5th August 2021

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2 Stocks To Buy From Sharekhan For Gains Up To 20%

October 14, 2021 root Personal Finance

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Tata Motors: Solid push on electric vehicles

Sharekhan sees a nearly 20% upside on the stock of Tata Motors from the current market price of Rs 507. The firm has set a target price of Rs 610 on the stock.

Private Equity Investors, TPG and ADQ, are investing USD 1 billion (Rs 7,500 crores) in the EV subsidiary of TAMO for a stake of 11-15%, depending upon the revenue thresholds, which is not disclosed.

“The valuation of the Electric Vehicles business is thus pegged at USD 6.7-9.1 billion depending upon the stake. Tata Motors, through its Electric Vehicles subsidiary, plans to launch a total of 10 Electric Vehicles by FY20216 across price points with different body styles and driving ranges, including born-Electric Vehicles platforms in the future. Tata Motors has already launched three Electric Vehicles models,” the brokerage has said.

Buy Tata Motors stock for 20% upside

Sharekhan has increased its SOTP based target price to Rs 610 (Rs 430 earlier), driven largely by value unlocking of the EV subsidiary business.

“We believe Tata Motors is taking the right steps towards increasing its focus on the electric vehicles business in India. The funding from external investors would help the company to aggressively develop and launch electric vehicle models. Also, Tata Motors is likely to benefit from the re-rating of valuation multiples driven by improved ESG ratings and its focus on EV technology. Besides the EV business, we expect TAMO to benefit from all its business verticals – JLR, CVs and PVs, except in H1FY22 that would be marred by near-term challenges of supply constraints. H2FY21 saw strong volume growth and better operational efficiencies aided by aggressive product launches, market positioning, product differentiation, cost savings and investments in R&D,” the brokerage has said.

Wipro

Sharekhan has a hold on the stock of Wipro with a price target of Rs 750 on the stock, as against a current market price of Rs 707.

“In Q2FY22, Wipro beat our estimates on all fronts, led by higher-than-expected contribution from the acquisitions (CAPCO and Ampion) and continued strong organic revenue growth. Wipro reported a constant currency (CC) revenue growth of 8.1% q-o-q and 17.8% y-o-y, well ahead of its top-end guidance of 5-7%. EBIT margin too stayed ahead of our expectations despite wage revision, impact from full quarter consolidation of Capco and Ampion, and investments in capability-building. Revenue growth guidance of 2-4% q-o-q for Q3FY2022 was on the expected lines. The management highlighted that the new business strategy, a simplified operating model and broad approach started showing results in terms of continued improvement in revenue growth trajectory and healthy deal wins,” the brokerage has said.

Disclaimer

The above stocks are picked from the brokerage report of Sharekhan. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article

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Reserve Bank of India – Press Releases

October 14, 2021 root Press Releases

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(Amount in ₹ crore, Rate in Per cent)

Volume
(One Leg) Weighted
Average Rate Range

A. Overnight Segment (I+II+III+IV) 445,222.75 3.05 0.01-5.15

     I. Call Money 6,937.60 3.27 1.95-3.45

     II. Triparty Repo 332,992.80 3.05 3.02-3.60

     III. Market Repo 105,257.35 3.05 0.01-3.25

     IV. Repo in Corporate Bond 35.00 5.15 5.15-5.15

B. Term Segment

     I. Notice Money** 1,066.94 3.14 2.40-3.40

     II. Term Money^@@ 108.00 – 3.10-3.45

     III. Triparty Repo 2,833.40 3.08 3.08-3.10

     IV. Market Repo 25.00 3.00 3.00-3.00

     V. Repo in Corporate Bond 0.00 – –

Auction Date Tenor (Days) Maturity Date Amount Current Rate /
Cut off Rate

C. Liquidity Adjustment Facility (LAF) & Marginal Standing Facility (MSF)

I. Today’s Operations

1. Fixed Rate

    (i) Repo

    (ii) Reverse Repo Wed, 13/10/2021 1 Thu, 14/10/2021 262,968.00 3.35

    (iii) Special Reverse Repo^~

    (iv) Special Reverse Repo^ψ

2. Variable Rate^&

  (I) Main Operation

     (a) Reverse Repo

  (II) Fine Tuning Operations

     (a) Repo

     (b) Reverse Repo

3. MSF Wed, 13/10/2021 1 Thu, 14/10/2021 540.00 4.25

4. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)^£

5. Net liquidity injected from today’s operations
[injection (+)/absorption (-)]* -262,428.00

II. Outstanding Operations

1. Fixed Rate

  (i) Repo

    (ii) Reverse Repo

    (iii) Special Reverse Repo^~ Fri, 08/10/2021 14 Fri, 22/10/2021 6,402.00 3.75

    (iv) Special Reverse Repo^ψ Fri, 08/10/2021 14 Fri, 22/10/2021 2,894.00 3.75

2. Variable Rate^&

  (I) Main Operation

     (a) Reverse Repo Fri, 08/10/2021 14 Fri, 22/10/2021 400,002.00 3.99

  (II) Fine Tuning Operations

     (a) Repo

     (b) Reverse Repo Tue, 12/10/2021 8 Wed, 20/10/2021 200,013.00 3.90

3. MSF

4. Long-Term Repo Operations^# Mon, 17/02/2020 1095 Thu, 16/02/2023 499.00 5.15

Mon, 02/03/2020 1094 Wed, 01/03/2023 253.00 5.15

Mon, 09/03/2020 1093 Tue, 07/03/2023 484.00 5.15

Wed, 18/03/2020 1094 Fri, 17/03/2023 294.00 5.15

5. Targeted Long Term Repo Operations^ Fri, 27/03/2020 1092 Fri, 24/03/2023 12,236.00 4.40

Fri, 03/04/2020 1095 Mon, 03/04/2023 16,925.00 4.40

Thu, 09/04/2020 1093 Fri, 07/04/2023 18,042.00 4.40

Fri, 17/04/2020 1091 Thu, 13/04/2023 20,399.00 4.40

6. Targeted Long Term Repo Operations 2.0^ Thu, 23/04/2020 1093 Fri, 21/04/2023 7,950.00 4.40

7. On Tap Targeted Long Term Repo Operations^€ Mon, 22/03/2021 1095 Thu, 21/03/2024 5,000.00 4.00

Mon, 14/06/2021 1096 Fri, 14/06/2024 320.00 4.00

Mon, 30/08/2021 1095 Thu, 29/08/2024 50.00 4.00

Mon, 13/09/2021 1095 Thu, 12/09/2024 200.00 4.00

Mon, 27/09/2021 1095 Thu, 26/09/2024 600.00 4.00

Mon, 04/10/2021 1095 Thu, 03/10/2024 350.00 4.00

8. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)^£ Mon, 17/05/2021 1095 Thu, 16/05/2024 400.00 4.00

Tue, 15/06/2021 1095 Fri, 14/06/2024 490.00 4.00

Thu, 15/07/2021 1093 Fri, 12/07/2024 750.00 4.00

Tue, 17/08/2021 1095 Fri, 16/08/2024 250.00 4.00

Wed, 15/09/2021 1094 Fri, 13/09/2024 150.00 4.00

D. Standing Liquidity Facility (SLF) Availed from RBI^$ 21,695.80

E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]* -501,973.20

F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]* -764,401.20

G. Cash Reserves Position of Scheduled Commercial Banks

     (i) Cash balances with RBI as on 13/10/2021 609,446.75

     (ii) Average daily cash reserve requirement for the fortnight ending 22/10/2021 630,289.00

H. Government of India Surplus Cash Balance Reckoned for Auction as on^¥ 13/10/2021 0.00

I. Net durable liquidity [surplus (+)/deficit (-)] as on 24/09/2021 1,205,314.00

^@ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).

– Not Applicable / No Transaction.

** Relates to uncollateralized transactions of 2 to 14 days tenor.

^@@ Relates to uncollateralized transactions of 15 days to one year tenor.

^$ Includes refinance facilities extended by RBI.

^& As per the Press Release No. 2019-2020/1900 dated February 06, 2020.

* Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo.

^# As per the Press Release No. 2020-2021/287 dated September 04, 2020.

^ As per the Press Release No. 2020-2021/605 dated November 06, 2020.

^€ As per the Press Release No. 2020-2021/520 dated October 21, 2020, Press Release No. 2020-2021/763 dated December 11, 2020, Press Release No. 2020-2021/1057 dated February 05, 2021 and Press Release No. 2021-2022/695 dated August 13, 2021.

^¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.

^£ As per the Press Release No. 2021-2022/181 dated May 07, 2021 and Press Release No. 2021-2022/1023 dated October 11, 2021.

^~ As per the Press Release No. 2021-2022/177 dated May 07, 2021.

^ψ As per the Press Release No. 2021-2022/323 dated June 04, 2021.

Ajit Prasad
Director

Press Release: 2021-2022/1042

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Tenure	Interest Rates	Interest Rates (Annualized)
7 Days to 1 Month 15 Days	3.50%	–
1 Month 16 Days to 3 Months	4.00%	–
3 Months 1 Day to 6 Months	4.35%	4.42%
6 Months 1 Day to 12 Months	4.85%	4.94%
12 Months 1 Day to 15 Months	5.85%	5.98%
15 Months 1 Day to 18 Months	5.75%	5.88%
18 Months 1 Day to 24 Months	5.75%	5.88%
24 Months 1 Day to 36 Months	6.00%	6.14%
36 Months 1 Day to 45 Months	5.75%	5.88%
45 Months 1 Day to 60 Months	5.75%	5.88%
60 Months 1 Day to 120 Months	6.00%	6.14%
Source: Bank Website, W.e.f. 14th October 2021

Tenure	ROI p.a.	Senior Citizen ROI p.a.
3 Months	4.00%	4.50%
4 Months to 6 Months	4.35%	4.85%
7 Months to 12 Months	4.85%	5.35%
13 Months to 15 months	5.85%	6.35%
16 Months to 18 months	5.75%	6.25%
19 Months to 24 Months	5.75%	6.25%
25 Months to 35 Months	6.00%	6.50%
36 Months	6.00%	6.75%
37 Months to 45 Months	5.75%	6.25%
46 Months to 60 Months	5.75%	6.25%
61 Months to 120 Months	6.00%	6.75%
Source: Bank Website, W.e.f. 14th October 2021

Tenure	Senior Citizen Rate (Per Annum) In %
7-14 Days	3.5
15-29 Days	3.5
30-45 Days	3.5
46-90 Days	4
91-180 Days	4.5
181-365 Days	5.5
366 days to 729 days	7.25
730 days to less than 1095	7.25
777 days	7.5
1096 days to less than 1825 days	7
1826 days to less than 3650 days	6.75
Source: Bank Website, Effective from 19th April 2021

Tenure	Senior Citizens
7 Days to 45 Days	3.50%
46 Days to 90 Days	3.75%
91 Days to 180 Days	4.50%
181 Days to 364 Days	6.25%
365 Days to 699 Days	6.75%
700 Days	7.25%
701 Days to 3652 Days	6.50%
Source: Bank Website, W.E.F. July 01, 2021

Period	Senior Citizen FD Interest Rate (p.a.)
7-14 days	3.00%
15-60 days	3.50%
61-90 days	4.25%
91-180 days	5.00%
181-364 days	6.00%
1 Year[365 Days]	6.75%
> 1 Year – 2 Years	7.00%
>2 Years-3 Years	7.00%
> 3 Year-	7.25%
5 Years[1825 Days]	7.00%
> 5 Years – 10 Years	6.50%
Source: Bank Website, Effective Date 07/05/2021