SBI launches 444-day term deposit with up to 7.25 pc annual returns

Mumbai, Jul 16 (PTI) State Bank of India on Tuesday launched a term deposit offering up to 7.25 per cent annual returns to its customers for a 444-day deposit.

The product comes amid a growing wedge between credit and deposit growth in the banking system and similar moves by its rivals.

***** Kotak Mahindra Bank announces 'distribution stricture' to boost customer experience * Kotak Mahindra Bank on Tuesday announced a new 'distribution stricture' to enhance customer experience.

ICICI Bank's Pranav Mishra has joined it as the head of distribution, a function that will encompass physical branches, digital banking and the voice channel, as per a statement.

***** Bandhan Bank launches Bharat QR Code for its customers * Private sector lender Bandhan Bank on Tuesday launched a payment solution through the Bharat QR Code for its current account and savings account customers.

Customers can make payments through any of the banking apps or UPI apps, without carrying or swiping their debit or credit cards, as per a statement. PTI AA TRB