State Bank of India cuts deposit rates for 1-3 yrs to 8.75%
Source: IRIS | 16 Sep, 2014, 10.05AM
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 State Bank of India (SBI) has decided to cut the deposit rates by 25 basis point to 8.75% in the 1-3 year category with effect from Sept. 18, 2014. Simultaneously, the bank has also decided to increase the deposit rate by 25 basis point in the 180-210 days category.
 ''With the inflation also trending down at a faster clip, this rate adjustment will continue to ensure that the savers are compensated adequately with a positive real rate on their deposits,'' the bank said.
Shares of the bank gained Rs 10, or 0.38%, to trade at Rs 2,634.30. The total volume of shares traded was 17,940 at the BSE (9.51 a.m., Tuesday).
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