Friday, September 20, 2013

Ahead of RBI policy review, SBI raises lending, deposit rates

Just a day ahead of the Reserve Bank of India’s second-quarter monetary policy review, State Bank of India raised deposit and lending rates. Competition to garner resources prompted India’s largest bank to increase retail term-deposit rates (below Rs 1 crore) by 25-100 basis points. One percentage point equals 100 basis points......

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