State Bank of India (SBI) on Monday reduced the MCLR and interest rates on time deposits across all maturities.
The state-run lender, which is the country's largest bank, announced a reduction in the MCLR by 10 basis points (BPS), effective September 10.
SBI also cut retail term-deposit rates by 20-25 bps and cut bulk term-deposit rates by 10-20 bps, according to ET Now.
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