IDBI Bank reduces deposit rates by 0.5-1 pct

State-run, IDBI Bank slashed its deposit rates by 0.5-1 per cent effective from May 21.
Deposits, below Rs 15-lakh, having a maturity of 1 year-2 years will now carry a rate of 7.5 per cent as against 8 per cent earlier, while those having a 2 years-less than 1,100 days tenure, will offer 7.75 per cent (8.25 per cent), a press release said.
Also, interest rate for 1,100-days deposits has been revised to 8 per cent (8.5 per cent) and rate for 1,100-days-5 years has been reduced to 7.75 per cent (8.25 per cent), the release said.
Rate for 15-45 days maturity deposits to 3.25 per cent (4.25 per cent) and that for 46-90 days maturity to 4.25 per cent (5.25), it said.
Similarly, interest rate for 5 years-10 years deposits has been cut to 8.25 per cent (8.75 per cent).
IDBI Bank has also trimmed the rates for deposits above Rs 15-lakh and upto Rs 1 crore in the above maturities.

Financial Express

ICICI Bank in pact with Visa in US

India's second largest lender ICICI Bank has signed an agreement with Visa to distribute debit cards in the United States.

According to this agreement between ICICI and VISA, New York branch of ICICI Bank's will issue Visa debit cards to its Global accounts in India and other checking account customers. This has been revelaed in a press release in Mumbai.

According to G V S Ramesh, US Branch Head of ICICI Bank: “Visa has an unmatched suite of payment products that allows our customers to pay securely and conveniently for every type of purchase”.

Indians moving overseas can avail the facility of banking from their Global Indian Account. They can also access local banking facilites in US.

The account provides customers with simultaneous access to a USD checking account at the bank's New York branch for their use in the US and a Rupee NRE account at ICICI Bank for use in India, the release said.

ICICI Bank opened its first branch at New York in March in midtown Manhattan in 2008.