In its recent move, RBI has deregulated the savings bank rate, which means, from now on wards the rate of savings bank account's can be fixed by the bank itself. Earlier the rate was fixed @4 p.c./annum (Current Rates of Banks).
This move was immediately capitalized by Kotak Bank and Yes Bank, who has increased the Savings bank interest rate to 6% from 4%. These are small banks whose prime
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