Bank of Baroda slips on change in interest payable rates
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Shares of Bank of Baroda declined over 2% to Rs 158 on the Bombay Stock Exchange (BSE) after the bank revised its rate of interest payable on term deposits.
The bank has decided to revise its rate of interest payable on term deposits below Rs 1 crore and Rs 1-10 crores respectively, effective from 8 June, 2015. The revised rates will be applicable to fresh deposits as well as renewal of existing deposits. The bank announced this decision on Friday 5 June, post market hours in a filing to the BSE.
The stock opened at Rs 161 and touched a low of Rs 157 in the early morning trades on the BSE. At 10 AM, a combined total of 549,350 shares changed hands on the counter on NSE and BSE.
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