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Whether banks can pay differential rates of interest on deposits aggregating Rs.15 lakhs and above?

April 26, 2017aggregating Banks deposits Differential lakhs pay rates rs.15

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Whether banks can pay differential rates of interest on deposits aggregating Rs.15 lakhs and above?

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Differential rates of interest can be paid on single deposit of Rs.15 lakhs and above and not on the aggregate of individual deposits where such total exceeds Rs.15 lakhs.