IDBI cuts term deposit rates

Here is the beginning of my post. And here is the rest of it. IDBI has reduced interest rates on some of its term deposits with effect from November 12. The interest on its 360-day deposits have been reduced by 0.75% from 9.5% to 8.75%, the bank said. For deposits of 500 and 800 days as also on deposits of five years, the bank has reduced its interest rates by 0.5% from 9.5% to 9%.