State Bank of India (SBI) and three other public sector banks have reduced interest rates on loans as well as deposits after the Reserve Bank of India (RBI) reduced the cost of funds for banks in its monetary policy. Following the rate cut, the maximum return on SBI’s fixed deposits stands at 6%.from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/379tVwi
