Sunday, February 05 2023
March 10, 2019
New Delhi-SBI announced linking of its savings deposits rates and short-term loans to the Reserve bank of India repo rate.The new rates will be effective 1st May.The new system would be applicable only for those with a balance of over Rs 1 lakh in their accounts.This will help speed up the monetary transmission process wherein lenders pass on Reserve Bank rate cuts as well as hikes to borrowers.
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