21
Monday
August 2017
7:16 AM IST
News Headlines
Post demonetisation, separatists and Maoists feel 'fund-starved': Arun Jaitley        Kalinga Utkal Express derailment: 4 railway officials suspended based on prima facie cause of accident        ACB forced me to testify against BS Yeddyurappa: KAS officer        Wreckage of US warship found after 70 years        Bangladesh sentences 10 to death for plot to kill Prime Minister Sheikh Hasina        Stand-up comedian, activist Dick Gregory dies        Shikhar Dhawan bags 11th ton as India hammer Sri Lanka by 9 wickets in opening ODI        Probe allegation against Kerala Transport Minister: VS Achuthanandan        Nitish Kumar-led JD(U) passes resolution to join NDA        ‘Pakistan’s Mother Teresa’ accorded state funeral        Upul Tharanga's Sri Lanka seek redemption against Virat Kohli and Co        India rally to beat Mauritius 2-1 in Tri-Nation opener        23 dead as 14 coaches of Utkal Express derail in UP        Shukkoor murder: CBI re-investigation against CPI(M) leaders        Positive result on merger in a day or two: Panneerselvam        Malappuram conversions: State didn't submit report, says Minister        Nitish, Sharad supporters clash outside CM's house        Knife attacker in Russian city wounds 8, shot by police        Two new earthworm species found in Western Ghats        Oommen Chandy's idea not practical: Antony        
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Business News
Axis Bank cuts interest rate on savings bank account
 
(Mumbai, Aug 9,2017, PTI): Private sector lender Axis Bank today reduced interest rate on savings bank accounts by 50 basis points to 3.5 per cent for deposits up to Rs 50 lakh.

However, the bank will continue to pay 4 per cent interest on deposits of above Rs 50 lakh.

Axis Bank is the fourth lender to reduce the interest rate after market leader State Bank of India (SBI) begun the process of reducing interest rate on savings bank account.

"... the bank has revised the interest rate downward on Savings Account balance by 50 bps to 3.50 per cent per annum on balance of up to Rs 50 lakh," Axis Bank said in a regulatory filing.

The new interest rates will be effective from today, it added.

On July 31, SBI slashed interest rate on savings account deposits by 50 basis points to 3.5 per cent on balance of Rs 1 crore and below.

Axis Bank shares closed at Rs 499.30 apiece on BSE, down 1.32 per cent.

Another PSU lender Bank of Baroda had cut the rate to 3.5 per cent on deposits of up to Rs 50 lakh. Karnataka Bank too had tweaked the interest rate on savings bank accounts.


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KERALA NEWS
Shukkoor murder: CBI re-investigation against CPI(M) leaders
 (Kannur, Aug 19, 2017, DG): The CBI has decided to conduct a re-investigation against CPI(M) leaders  
Malappuram conversions: State didn't submit report, says Minister
Two new earthworm species found in Western Ghats
Oommen Chandy's idea not practical: Antony
INTERNATIONAL NEWS
Wreckage of US warship found after 70 years
 (Washington, Aug 20, 2017):The wreckage of a lost US warship has been found 72 years after a
Bangladesh sentences 10 to death for plot to kill Prime Minister Sheikh Hasina
Stand-up comedian, activist Dick Gregory dies
‘Pakistan’s Mother Teresa’ accorded state funeral
NATIONAL NEWS
Post demonetisation, separatists and Maoists feel 'fund-starved': Arun Jaitley
 (MUMBAI, Aug 20, 2017):Union finance minister Arun Jaitley on Sunday said demonetisation left
Kalinga Utkal Express derailment: 4 railway officials suspended based on prima facie cause of accident
ACB forced me to testify against BS Yeddyurappa: KAS officer
Nitish Kumar-led JD(U) passes resolution to join NDA
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