Thursday, December 6, 2012

No cartelisation in fixing saving deposit rates: SBI

......The nation's largest bank SBI today dismissed allegations of cartelisation by big banks in keeping savings deposit rate unchanged despite RBI deregulating this over a year ago. Disputing the charges, SBI Managing Director and Chief Financial officer Diwakar Gupta said the bank's decision not to raise interest rates on savings deposits is a purely commercial one and does not amount to cartelisation. "I said it is not cartelisation,"......

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