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This is an archive article published on October 1, 2009

SBI cuts deposit rates by 25 bps

SBI said it would cut deposit rates by 25 basis points across maturities from Oct. 5.

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State Bank of India SBI,the country8217;s top lender,said on Thursday it would cut deposit rates by 25 basis points across maturities from Oct. 5.

SBI,which along with its associates controls a quarter of the Indian banking loans and deposits,has been cutting deposits to reduce its cost of funds as lending rates remain low.

 

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