SBI cuts deposit rates by up to 25 basis points
India’s largest lender SBI has cut deposit rates by 25 basis points in some maturities, thereby indicating excess liquidity in the banking system. SBI has cut rates for deposits less than ₹1 crore with a maturity period of 455 days to 3 years, starting this month. SBI’s deposit rate cut will push other PSU banks to cut rates, analysts said. 