Dhanlaxmi Bank to increase NRI deposits to Rs 1000 crore by the end of fiscal

Private sector bank, Dhanlaxmi Bank is planning to hike its NRI deposit base. The bank has plans to increase the NRI deposits to Rs 1000 crore by the end of this fiscal.

Salil Datar, Branch Banking & NRI Business Head, Dhanlaxmi Bank said, “We plan to take our NRI deposit base to around Rs 1,000 crore from the present Rs 400 crore by the end of FY11”.

The NRI deposit base comprised 5% of its total deposits previous year and it intends to hike the number to 10% by fiscal end.

Datar also added that in order to entice more customers, the bank has riased its deposit rates for NRIs to 8% lately.

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