RBI Says 159 Districts in 25 States Saw Decline in Fixed Deposits Due to Covid-19 Crunch: Report
3 years, 6 months ago

RBI Says 159 Districts in 25 States Saw Decline in Fixed Deposits Due to Covid-19 Crunch: Report

News 18  

According to the latest report by the Reserve Bank of India 159 districts in 25 states saw a decline in term deposits from January to March. City-based UCO Bank said it is offering 30 basis points or 0.30 per cent higher rate on fixed deposits of 999 days for applicants who have received at least one dose of a Covid vaccine. Central Bank of India had also recently launched the Immune India Deposit Scheme with an additional interest rate of 25 basis points above the applicable card rate for those who have been vaccinated. Centre last month announced Rs 10 lakh fixed deposit, free health insurance and education for children who have lost both parents or surviving parent or legal guardian/adoptive parents due to covid-19.

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