State Bank of India ( SBI), which commands over 20 per cent of the
banking business in the country, announced a 0.25 per cent cut in
deposit rates across all maturities, bringing the rate of long- end (
8- 10 year) deposits down to 7.5 per cent.
Looks like SBI is trying to keep up with interest margin by lowering deposit rates. Now at 7.5% 8-10 year deposit becomes less attractive. Banks are flushed with money and their low credit off take.
This means more money flowing into equity ?
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