Deposits in accounts opened under the governmentÂ´s ambitious financial inclusion scheme Pradhan Mantri Jan Dhan Yojana have crossed Rs.25,000 crore, the Finance Ministry said. A Â“good amountÂ” has come to the banks as low-cost deposits, it said.
Following the meeting with Finance Minister P Chidambaram some of the public sector banks are reducing their base rates. The recent bank to join the club is Oriental Bank of Commerce (OBC), which trimmed its base rate by 25 basis points, or 0.25 percentage points, from 10.25 per cent to 10 per cent. The reduction in the interest rate woul