News

Karnataka Bank Ltd has launched a new fixed deposit scheme for 365 days, with effect from September15. The scheme offers a highly competitive simple interest rate of 8.25 percent. The period of deposit is fixed as 365 days and interest is payable on maturity date. Nomination facility is available to the depositor under the scheme. The scheme is open for limited period only.

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Oriental Bank of Commerce, Indian Bank and Corporation Bank signed an allieace to share business. The Memorandum of Intent will cover e-payment system, sharing of IT infrastructure, training, ATMs, treasury resources, loan syndication, capital market and international forays.