Oriental Bank to Lower Deposit Rates

Oriental Bank of Commerce (OBC) is likely to reduce deposit rates in some of the term buckets, after its asset-liability committee meeting, which is scheduled next week to take a call on the issue.

In mid-August, the bank had lowered its base rate by 10 basis points to 10.40%, signaling that interest rates may have peaked. It had also reduced interest rates on term deposits of Rs 15 lakh and above.