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What is SBI Cuts Deposit Rates, Other Banks Expected to Follow about?

State Bank of India (SBI) cut deposit rates for fresh funds across segments in response to falling interest rates and surplus liquidity. SBI lowered term deposit rates by 20 basis points for retail customers and 50-75 basis points for deposits up to 179 days. This is expected to lead other banks to lower their lending rates as well, passing on the cumulative 75 basis point rate cuts by the Reserve Bank of India. SBI

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naresh

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