Janata Bank back outs from its decision; rolls back 12% interest rate in FD product to align with higher authorities’ instructions
Janata Bank has withdrawn its recently hiked interest rate of 12% p.a. for its special fixed deposit product without stating any clear reason. The latest decision will be effective from Poush 5, 2075.
It is quite understandable that the words of caution from the central Bank as well as the Finance Ministry to reduce the growing interest rate took its effect in the bank’s sudden decision.
