NEW DELHI: Ahead of RBI's mid-quarter review of the monetary policy later this month, country's largest lender State Bank of India (SBI) on Thursday slashed fixed deposit rates by 0.25 per cent across select maturities.
The bank has decided to revise its retail term deposit interest rates with a reduction by 0.25 per cent in tenors up to 240 days, SBI said in a statement.
The new rates would be effective from Friday. RBI is scheduled to announce mid-quarter review of monetary policy on June 18. It is expected that the central bank may cut policy rate by by 0.25 per cent to spur growth.
The bank has decided to revise its retail term deposit interest rates with a reduction by 0.25 per cent in tenors up to 240 days, SBI said in a statement.
The new rates would be effective from Friday. RBI is scheduled to announce mid-quarter review of monetary policy on June 18. It is expected that the central bank may cut policy rate by by 0.25 per cent to spur growth.
