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ICICI Bank cuts short-term rates
Special Correspondent
MUMBAI: ICICI Bank has announced a reduction in interest rates on single deposits of less than Rs. 15 lakh by 25-50 basis points for select maturities up to two years with effect from August 9.
The interest rates on special deposit schemes remain unchanged.
The revised rate for tenors of 181-365 days will be 6.25 per cent per annum against 6.50 per cent at present.
Similarly, for tenors of 366 days and up to two years, excluding special deposit schemes, the rate will be 6.25 per cent against 6.75 per cent.
SME toolkit
Meanwhile, the bank, in association with IBM and IFC, a member of the World Bank group, on Tuesday launched an innovative SME toolkit ( www.india.smetoolkit.org ), a free online resource centre, for small and medium enterprises.
It contains up-to-date information and tools to enable enterprises in emerging markets learn how to increase their productivity, efficiency and capacity, as well as improve their access to capital and new markets.
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