The largest Public Sector Bank of the country State Bank of India has raised the Foreign Currency Non Residential (FCNR) deposit on various currencies by up to 46 basis points. The bank raised deposit rates on selected currencies over various maturities.
The bank has announced a 28 basis point hike of deposits in pound sterling over all the maturities. The bank revised the deposit rates in Euro by 10 basis points to 2.57 percent over maturity of one year and less than two years.
The bank revised deposit rates for some other currencies including Yen and Canadian Dollar over various maturities. The bank kept the deposit rates unchanged for deposits in American Dollar.
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