Oriental Bank of Commerce hikes FCNR interest rates

Oriental Bank of Commmerce (OBC), state-owned public sector lender, has hiked its offered interest rates on foreign currency non-resident (banks) deposits. The deposit rates have been revised on all maturities from one to five years for US dollars, British pounds, Euros, Australian dollars, Canadian dollars and Japanese Yen. The interest rate hike ranges from 75-175 basis points and took effect from May 8.

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