MUMBAI: The Bank of India (BOI) on Saturday hiked interest rates on NRE and NRNR deposits in view of the Reserve Bank of India's (RBI) measures to abolish CRR on these deposits to attract dollar inflows and stem the rupee depreciation. The RBI had, early this month, increased the CRR on non-resident deposits to throttle excessive liquidity in the money markets and increase foreign exchange inflows of banks so as to increase dollar supply and also thwart inter-market arbitrage.The minimum deposit rate for NRE deposit would be 7.5 per cent and the maximum would be 11.5 per cent. While the minimum deposit rates for NRNR deposit would be 11 per cent and maximum would be 12 per cent, a BOI release said here today.Silver, gold fallMUMBAI: Prices of silver and gold declined further on the bullion market on persistent fall in demand. Ready silver of .999 fineness started weak and dropped further to settle at Rs 8420, showing a fall of Rs 60 from the last close of Rs 8480. Raw silver of .916 fineness and tenderable silver also fell by a similar margin to close at Rs 8320 and Rs 8425 from Rs 8380 and Rs 8485 respectively.Standard gold also resumed weak and fell to close at Rs 4040, showing a fall of Rs 40 from yesterday's level of Rs 4080. 22-carat gold was nominally quoted weak at Rs 3740 from Rs 3775 and ten-told gold bar of .999 purity lost Rs 400 at Rs 47,300.New BSE timingsMUMBAI: The Bombay Stock Exchange (BSE) has made its trading timings similar to the National Stock Exchange (NSE). The BSE announced the change in timings from Monday (December 29). According to new timings the trading would be conducted between 9.30 a m to 4 p m. The timings for the carry forward (badla) session will start from 10 a m and end at 12 noon. Interim members query, negotiated deal, final members query will end at 1.40 p m.
