State Bank of India raises NRI deposit rates
PNB raises interest rate on NRE term deposits
And Three more banks have announced hikes in their Non-Resident (External) Rupee Account deposit offerings, with mid-size lenders Yes Bank and Dena Bank coming out with the highest offerings of 9.6 per cent.
The announcements follow similar ones made earlier by peers like Federal Bank, Dhanlaxmi Bank and HDFC Bank, among others, following the RBI decision to free the rates on December 16 to stem the massive slide of the rupee, which had hit 54.30 to a dollar on the previous day.
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