Nifty manages to hold 9900, midcaps & PSU banks rally

Shares of HDFC Bank were trading lower by over half a percent even as the lender announced a reduction in interest rates on savings bank accounts.

The bank on Thursday cut interest rates on most of its savings accounts to 3.5 percent from 4 percent.

Customers with savings bank account balance of Rs 50 lakh and above will continue to earn interest at 4 percent per annum, the lender said in a statement.
These shall be effective from August 19, 2017, it told the exchanges in a notification.

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Posted in: Indian Market Tips