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Dena Bank cuts deposit rates by 50 basis points

Dena bank rolls back by 50 basis points on its deposit rates

Apnaloan.com Research Bureau

10 Aug 2007

Dena Bank has reduced interest rates on Dena Diamond deposit scheme by 50 basis points to 9 per cent from 9.5%. P L Garodia, Chairman and Managing Director, Dena Bank was quoted in DNA saying the rates were slashed to protect bank's margins. He also predicted a rise in lending rates within the next one to two months owing to credit growth.