State Bank of India has cut its deposits rates by 0.25% across all tenures effective from October 5.
The revised rates are applicable for deposits of below Rs.1.00 crore.
A news item has appeared in News Papers, the links of which are placed below.With the announcement by SBI, many of the banks may follow the leader in the coming days. Let's wait and see.
Links:
http://economictimes.indiatimes.com/articleshow/5077338.cms
http://www.thehindubusinessline.com/2009/10/02/stories/2009100252200100.htm
http://www.business-standard.com/india/news/state-bank-cuts-deposit-rates-by-25bps/371882/
SBI SLASHES DEPOSIT RATES BY 0.25% FROM OCTOBER 5, 2009
Labels: BANKING N FINANCE
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