RSS Feeds Forgot Password | Register
Banking And Finance | September 20, 2013
#39061

SBI increases lending, deposit rates

Ahead of Reserve Bank of India's (RBI) mid-quarter monetary policy review the State Bank of India (SBI), hiked its lending and deposit rates on September 19. The country's larges bank hiked its base rate, or the minimum lending rate, to 9.8 per cent from 9.7 per cent.    

SBI also hiked its interest rates offered on deposits by 0.25-1 percentage point across different maturities. SBI also increased it benchmark prime lending rate (BPLR) by a similar 10 basis points (bps) to 14.55 per cent effective from September 19, SBI said in a communication to stock exchanges.    

Base rate replaced BPLR on 1 July 2010. One basis point is one-hundredth of a percentage point. RBI governor Raghuram Rajan is likely to hold key lending rate at 7.25 per cent on September 20 at his first monetary policy meeting.

Advertise Here [670 W x 90 H pixels]
Subscribe Project Reporter
  • Sector News

  • Latest News

  • 20 Dec 2014

    NMRC finalises 21 station for Greater Noida metro project

    read more
  • 16 Dec 2014

    Centre approves proposal to ensure quick transfer of land owned by government departments and PSUs for metro rail projects

    read more
  • 05 Dec 2014

    IRB Infrastructure gets provision certificate for Pathankot Amritsar BOT Project

    read more
  • 05 Dec 2014

    MMRDA approves two metro corridor project for Mumbai

    read more
  • 05 Dec 2014

    GOI gives nod to monorail project in Chennai

    read more
  • 18 Nov 2014

    Telangana government plans to take up road development in a big way

    read more
  • 04 Jan 2015

    PM stresses on improving quality of urban governance...

    read more
  • 04 Jan 2015

    Government to build industrial corridors and smart cities...

    read more
  • 04 Jan 2015

    AP to seek Rs 2,000 crore under Swachh Bharat scheme...

    read more
  • 04 Jan 2015

    BHEL gets 1x800 MW Kothagudem power project...

    read more
  • 04 Jan 2015

    BHEL, HSL and Midhani comes together to bid for submarine project...

    read more
  • 04 Jan 2015

    Develop new airports in Arunachal Pradesh: Thangwang Wangham...

    read more
|
Advertise Here [728 W x 90 H pixels]