A C Mahajan new CMD of Allahabad Bank

By Staff
|
Google Oneindia News

New Delhi, Aug 1 (UNI) Allahabad Bank today appointed Mr A C Mahajan as its Chairman and Managing Director (CMD).

His appointment is upto July 31, 2010, the date of his superannuation, or until further orders, whichever is earlier.

The bank also reduced interest rates on Foreign Currency Non-Resident (FCNR) deposits and NRE term deposits.

The revised rates for dollar were 5.54 per cent (earlier 5.69 per cent) for one year to less than two years, 5.44 per cent (5.69 per cent) for two years to less than three years, 5.42 per cent (5.68 per cent) for three years to less than four years, 5.43 per cent (earlier 5.70 per cent) for four years to less than five years and 5.46 per cent (earlier 5.72 per cent) for five years, according to a statement.

In case of GB Pound deposits, the revised rates were 5.04 per cent (5.01 per cent), 5.08 per cent (5.13 per cent), 5.11 per cent (5.19 per cent), 5.12 per cent (5.21 per cent) and 5.11 per cent (5.21 per cent) for respective maturities.

For EURO deposits, the Bank fixed interest rates at 3.55 per cent (3.52 per cent), 3.76 per cent (3.82 per cent) and 3.84 per cent (3.94 per cent), 3.90 per cent (4.03 per cent) and 3.96 per cent (4.09 per cent) for corresponding maturities.

Rates for NRE Term Deposits would be 6.54 per cent (6.70 per cent) for one year to less than two years, 6.44 per cent (6.70 per cent) for two years to less than three years and 6.42 per cent (6.70 per cent) for three years.

The rate for NRE Savings Bank Deposit would be 3.50 per cent from November 18, 2005.

UNI CS DKS KN2009

For Daily Alerts
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X