Date:03/05/2005 URL: http://www.thehindubusinessline.com/2005/05/03/stories/2005050302530600.htm

Back Banks lower FCNR, NRE deposit rates

Our Bureaus

Mumbai , May 2

A number of banks have lowered the interest rates on their NRE term deposits and FCNR deposits .

The rate changes by Dena Bank and Bank of Baroda will take effect immediately, according to press releases issued by both banks.

Similarly, Bank of Baroda has also lowered the rates for FCNR deposits for euro and yen.