Post bi-monthly monetary policy 2015-16 announced by RBI on June 02, 2015, IDBI Bank, one the leading public sector banks, has reduced its retail deposit rates in the range of 15 to 55 bps across categories.
IDBI Bank has decided to revise its retail term deposit rates with effect from June 10 across all maturity buckets.
The bank has reduced the interest rate in most of the short-term maturity buckets of 31 days to <1 year by 25 bps (except 6 month 1 day, where the interest rate is reduced by 55 bps). The interest rate in the medium and longer term maturity buckets have been reduced by 15 bps (except for 1 year to < 2 years, where the interest rate is reduced by 20 bps.
Shares of the bank gained Rs 1.75, or 2.83%, to trade at Rs 63.50. The total volume of shares traded was 0 at the BSE (9.01 a.m., Wednesday).