Mumbai: Indian private sector lender Centurion Bank of Punjab reduced its depository interest rates by 50-150 basis points.

The bank said in a statement that the novel interest rates on deposits will be effective from Monday.

Today, Centurion Bank shares closed the day after making a gain of 2.65 per cent up at Rs 38.75 in a weak Mumbai market.

Centurion Bank of Punjab is a new generation private sector bank providing a broad range of retail, SME and corporate banking products and services. It has been among the initial banks to present a technology-enabled customer interface, which provides trouble-free access and better customer service.

Centurion Bank of Punjab has a nationwide reach through its network of 279 branches and 408 ATMs. The main intention of the bank is to serve up all the banking as well as financial requirements of its clients through several delivery channels, each of which is backed by high-tech technology architecture.