Vijay Bank hikes interest rates

Bangalore, Jun 17 (UNI) Vijaya Bank today announced hike in interest rates on Deposits of 'one year to less than two years' maturity by 30 bps from 8.50 per cent to 8.80 per cent with effect from tomorrow (June 18).

A decision to this effect was taken by the Bank's Asset Liability Management Committee with a view to narrowing liquidity gaps under specific maturity slab, according to a Bank release here.

Bank Chairman and Managing Director Prakash P Mallya said that "our advances, like in the previous financial, continue to grow faster than the industry and this move is with a view to pace up our resource mobilization accordingly", About lending rates, he said that a suitable decision would be taken at an appropriate time after carefully assessing the market trends and the policy environment.

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