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SBI, PNB raise bulk deposit rates

Staff Reporter, New Delhi
01/12/2017   0 Comments

State-owned State Bank of India and Punjab National bank have raised its interest rate on bulk deposits over Rs 1 crore.

In the process, SBI has raised the rates by 100 basis points to 5.25percent, while PNB has raised rates by 50 basis points, to five percent.

These increases come a few days ahead of the Reserve Bank’s bi-monthly policy review, on Wednesday.

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