NEWS & ADVICE : FIXED DEPOSITS
Decision on deposit rates coming soon: SBI
By Neelima Shankar
Sep 30, 2010
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The largest lender of the country, State Bank of India has said that a decision would soon be taken on raising of deposit rates of the bank.

The statement by the banking major comes after Reserve Bank of India announced that the deposit growth profile of banks is showing a decelerating trend owing to negative value of real rates.

RBI says that the real rates should be such that deposit growth is encouraged.

SBI has recently extended its teaser loan scheme on home loans.

On the bank's credit growth performance in the second quarter of the fiscal, Mr Bhatt said it was "slightly better" and the bank is now aiming at a credit growth of 20 per cent in 2010-11.

The bank has also come up with specially designed products and services for the Central Para Military Forces Central Reserve Police Force (CRPF), Sashastra Seema Bal (SSB), Border Security Force (BSF), National Security Guards (NSG), Indo Tibetan Border Police (ITBP) and the Central Industrial Security Force (CISF).


 


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