Deposit Money Banks' liquidity deposits with CBN rOse by 627.17% to N9.39tn, reflecting improved financial stability in the banking sector.
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Banks are offering better deposit rates to attract customers amid liquidity shortages. IDBI Bank launched a scheme for individuals aged 80 and above, with higher interest rates. Similarly, Bank of Baroda introduced a liquid fixed deposit scheme allowing withdrawals in units of Rs 1,000, with extra benefits for seniors.
Deposit Money Banks' liquidity deposits with CBN rOse by 627.17% to N9.39tn, reflecting improved financial stability in the banking sector.
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