Business Express

SBI cuts lending rate by 15 bps, launches scheme for senior citizens

State Bank of India on Thursday slashed benchmark lending rate by .fifteen basis points, and launched unique deposit scheme for senior citizens with better curiosity rate.

To safeguard the pursuits of senior citizens in the present falling rate routine, the lender has launched a new products ‘SBI Wecare Deposit’ for them in the retail expression deposit section, SBI said in a assertion.

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Beneath this new products, an supplemental thirty basis points top quality will be payable for senior citizen’s retail expression deposits

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Business Management

Rate cut fails to hold up markets; Sensex dips 1,310 pts from day’s high

Fairness market finished Friday’s really volatile session on a subdued notice even as the Reserve Financial institution of India (RBI), in an unexpected emergency transfer, slashed the repo price by a huge seventy five foundation points (bps) to arrest the probable downturn in the overall economy owing to coronavirus (Covid-19) pandemic. In addition, the RBI imposed a moratorium on principal and interest payments for 3 months and explained to financial institutions and non-banking finance organizations that that non-payment won’t be deemed as non-undertaking property (NPA). Go through More

The S&P BSE Sensex shut at 29,816, down 131 points or .forty

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