Date:21/11/2008 URL: http://www.thehindu.com/2008/11/21/stories/2008112157491700.htm

Business - Briefly

TMB increases FCNR (B), NRE deposit rates

CHENNAI: Tamilnad Mercantile Bank has hiked the interest rates on its NRE and FCNR (B) rates with effect from November 16. The bank has increased the interest rate on the one year and above but below 2 year category of NRE term deposits to 4.92 per cent from 4.17 per cent and two years and above and below to three years category to 4.41 per cent from 3.66 per cent. The bank has also raised the FCNR (B) for various maturities.