UTI Bank has revised interest rates on domestic term deposits of Rs 50 lakh with effect from September 21. The new rates are 8.50 per cent for tenures above 15 days and below 45 days. For deposits of 46-90 days, the rate is 9-9.5 per cent for deposits of 91-180 days. Deposits of 181 days-18 months the interest rate is 10.75 per cent and over 18 months-three years, it is 11.50 per cent. The interest rate for deposits of over three years is 12.50 per cent.

Banks to stay open on September 30: The RBI has directed all commercial banks, including regional rural banks, to keep their branches open for two hours on the half-yearly closing day. Normally, banks are closed for public dealings on September 30 for their half-yearly closing of accounts.

Andhra Bank appoints new ED: B Vasanthan joined Andhra Bank as executive director on September 14. He was earlier general manager at Syndicate Bank. Vasanthan has been in the banking industry for aperiod of 33 years.

Bank of Baroda selects new ED: PS Shenoy has taken over as the new executive director at Bank of Baroda. Prior to his appointment, Shenoy was a general manager at Bank of India. His responsibilities at Bank of India included finance and group strategy covering planning, treasury, monitoring of subsidiaries and share department.