Central Bank of India raises interest rate

Bhopal, Apr 4: The Central Bank of India has raised the interest rates on Non-Resident External (NRE) time deposits and foreign currency non-resident (FCNR) deposits with effect from April 1.

NRE time deposit interest rates for all maturities have been increased by ten basis points to six per cent. The rate of interest on FCNR deposits in US dollar for one year has been increased from 5.15 per cent to 5.29 per cent, a bank release said.

UNI