
ICICI Bank raises interest rates on fixed deposits
Fixed deposits with maturity ranging from five years and one day to 10 years will fetch 5.75% interest compared with 5.6% earlier.
Fixed deposits with maturity ranging from five years and one day to 10 years will fetch 5.75% interest compared with 5.6% earlier.
With market capitalisation of ₹4,83,680 crore, ICICI Bank has become the second-most valuable Indian bank after HDFC Bank.
Shares of ICICI Bank rose nearly 2% in opening trade after the lender posted robust earnings in the March quarter, driven by higher net interest income and a decline in provisions.
The Sensex and Nifty are set to fall in opening trade on Monday, mirroring weakness in Asian peers and bearish trends at SGX Nifty futures.
The statement comes after the Congress attacked the Narendra Modi government for "dilly-dallying" on India's biggest banking fraud.
The domestic bourses were in an upbeat mood ahead of Union Budget 2022, supported by gains in index heavyweights such as Infosys, ICICI Bank, Maruti, IndusInd Bank, HDFC, and Sun Pharma.
The BSE Sensex declined more than 2,000 points intraday, while all 30 index heavyweights ended in red.
The BSE Sensex and the NSE Nifty are poised to open lower on Monday as stocks slumped on Wall Street and in Asia, while trends on SGX Nifty also indicated a gap-down opening for domestic bourses.
As per the bank's website, fixed deposits with maturity ranging from five years and one day to 10 years will fetch 5.60% interest.
The BSE Sensex and the NSE Nifty are expected to open higher on Monday as trends on SGX Nifty indicate a gap-up opening for the Indian share market.