SBI to decide on interest rate revision this week after central bank cut

SBI charges between Re 1 and Rs 5 for transactions through NEFT and between Rs 5 and Rs 50 for RTGS route.

State Bank of India (SBI), the country's largest bank, said its asset liability committee (Alco) will meet this week to decide on revising interest rates after the Reserve Bank of India (RBI) on Thursday slashed the repo rate by 25 basis points to 5.75 per cent.

“The rate cut by RBI is on expected lines. The market was expecting a rate cut, so that has happened. For the bank, we are having a meeting of Alco this week. They will take a decision on what needs to be done (on revision of interest rates),” said PK Gupta, managing director (retail &