Syndicate Bank revised its interest rates on domestic term deposits with effect from March 15 1999. The revised rates for the maturity periods of 15 days to 29 days is at 5 per cent, from 6 to 90 days is 7 per cent, for 180 days to one year is 8 per cent over one year up to two years is 10 per cent and for a period over three years is 11.25 per cent. The revised rates are applicable to domestic term deposits including capital gains schemes "B" for fresh renewal of deposits made on or after March 15. Interest rates of NRE, NRNR term deposits remains unchanged.

RBI announces 3-day repo rates

The RBI has announced a three-day fixed rate repos in Government of India securities on March 19, 1999 for parties holding SGL account and current with it at Mumbai. The repo rate is pegged at 6 per cent.

Crisil reaffirms Union Bank rating

Crisil has reaffirmed the `FAAA' rating assigned to Union Bank of India's fixed deposit plan and the `P1+' rating accorded tothe certificate of deposit programme. These ratings reflect the strong resources and market position of the bank, coupled with its regional diversity and profitable operations.

IIDL gets `AA-(SO)' rating Crisil has assigned "AA-(SO)" rating to the 4.09 billion non convertible debenture programme of India Infrastructure Developers Ltd (IIDL). The rating is based on the strength of the cash flows into IIDL, comprising primary lease rentals payable by IPCL and the support of L&T during construction phase of the project.

Union Bank FCNR rates

Union Bank of India has not revised FCNR (B) rates with effect from March 12 as reported in this paper on Wednesday.