SBI cuts interest rate on bulk deposits

REUTERS - State Bank of India says cuts interest rate on bulk deposits for 7 days to less than 1 year by 25 bps to 7.25 percent

Source text:

State Bank of India has informed BSE that it has been decided to revise downwards by 25 bps the interest rate on Bulk Deposits (Rs. One Crore and above) for the tenors 7 days to less than 1 year. Accordingly, the interest rate for bulk deposits for the above tenors will be 7.25% per annum with effect from June 07, 2013.