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SBI cuts deposit rates by 0.25%

anilmehta's picture
Submitted by anilmehta on October 3, 2009 - 02:20

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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About anilmehta

Anil Mehta is a seasoned investor with expertise in Indian Equity markets.Anil published many white papers and columns on various magzines and newspapers.

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