State-Owned Bank Adjusts Rates Amidst Anniversary and Charitable Drive

The Bank of India, a state-owned entity, announced a reduction in its savings deposit rate by 25 basis points to 2.50%, aligning its strategy with similar actions taken by peer institutions.

Further aligning with industry trends, the bank decreased the interest rate on green deposits. Additionally, a 999-day deposit now yields 6.70% interest, down from a previous rate of 7%.

Amid its 70th-anniversary celebrations, the bank hosted a blood donation drive, collecting over 89,000 units. Concurrently, spiritual lifestyle brand Divine Hindu secured Rs 1.56 crore in funding to expand its reach and offerings in India and internationally.

(With inputs from agencies.)