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State Bank of India cuts MCLR By 10 bps effective September 10

State Bank of India reduced interest rates on time deposits across all maturities

Reuters/BS Web Team 

SBI to link saving deposits, loan pricing to repo rate from May 1
State Bank of India

(SBI) on Monday reduced the MCLR and interest rates on time deposits across all maturities.

The state-run lender, which is the country's largest bank, announced a reduction in the MCLR by 10 basis points (BPS), effective September 10.

also cut retail term-deposit rates by 20-25 bps and cut bulk term-deposit rates by 10-20 bps, according to ET Now.

First Published: Mon, September 09 2019. 10:29 IST