State Bank of Hyderabad (SBH) has a special 70 week deposit scheme, which offers interest rates that is unmatched amongst its PSU counterparts or private sector peers.
The 70 week deposit scheme however runs for only two days on April 4 and April 5. Now as per the RBI April 5 is a holiday under the Negotiable Instruments Act. The parent company of SBH, State Bank of India has issued a notice clearly stating that most of its branches are likely to remain closed on April 5.
Wonder what was the need to keep a scheme running for two days, especially when one of them is a bank holiday. Unless, of course State Bank of Hyderabad decides to keep its branches open on April 5, 2012.
And, wonder how many SBH customers will apply online?
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