State Bank's deposit rate increase stumps peers

..... SBI officials said it was unlikely the bank would pare its base rate anytime soon. “Even if there is a repo rate cut by the Reserve Bank of India (RBI), market rates are not going to come down. Also, at a time when companies are not sure about their future and credit risks are high, it does not make sense for banks to lend at lower rates,” a senior executive of the bank said……..

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