BOB, UBI revise rates on FCNR(B), NRE deposits

Mumbai, Aug 1 (UNI) After the Reserve Bank cautioned bankers of the huge capital inflows that have been posing 'risks' to the economy, two leading public lenders -- Bank of Baroda (BoB) and Union Bank of India (UBI) -- today dipped rates on Foreign Currency Non Resident Accounts (Banks) Scheme deposits (FCNR(B)) and Non-Resident External (NRE) Deposits.

The revised rates on FCNR(B) deposits in US dollar for maturity one year to two years is 4.50 (4.68), in Pound 5.54 (5.57), in Euro is 3.79 (3.78), in Yen 0.24 (0.24), in Canadian dollar 4.14 (4.10) and in Australian Dollar 6.14 (6.02).

Rates for NRE deposits of one-year to less than two years, rates have been reduced from 5.43 per cent to 5.25 per cent, while for maturity period of two years to less than three years, new rate is 5.17 (5.43) per cent.

For three years to less than four years, the rate has been reduced to 5.21 (5.46) per cent.

UNI