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SBI cuts base rate by 25 bps to 9.75%
SME News, Wednesday, Sep 19, 2012 12:52:03 PM IST
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NEW DELHI: Country's largest lender State Bank of India (SBI) has reduced its base rate by an equal amount of RBI's reduction in cash reserve ratio (CRR) by a quarter of a percentage point (25 basis points).
With this announcement, SBI's base rate will be 9.75 per cent per annum from existing 10 per cent.
Earlier this month, the lender had reduced deposit rates between 50-100 basis points across maturities.
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