TODAY -
SBI hikes interest rate by 0.25 pc on deposits of 3-5 yrs
Write Comment
E-Mail To a Friend
Facebook
Twitter 
Print In a surprise move, country’s largest bank SBI today increased interest rates on select fixed deposits by 0.25 per cent.
Deposits under Rs 15 lakh for a period of three years but less than five years will fetch an interest rate of 9 per cent, up from 8.75 percent, State Bank of India (SBI) said in a statement issued here.
The revised interest rate will be applicable from July 1, it said. The move, which is likely to trim SBI’s profits, comes as a surprise because the bank had earlier this month cut deposit rates by 0.25 per cent in select maturities. This followed the Reserve Bank’s cut in lending rates by 0.5 per cent in April and a cumulative cut in cash reserve requirements to the tune of 1.25 per cent this year.
A hike in interest rate by SBI is surprising also because it followed a cut of 0.20 per cent in base rate by private lender HDFC Bank yesterday. Bankers are of the opinion that lowering lending rates, which can help boost sagging growth as well as credit pick-up, is possible only if they are able to rein in deposit rates which continue to be elevated due to competition and slowdown in deposit growth.
Meanwhile, SBI’s peer Union Bank of India today announced a cut of up to 1 percentage point in its lending to micro, small and medium enterprises. Two other small banks —- Deustche Bank and Lakshmi Vilas Bank-- had also increased deposit rates marginally over the past week.
Please note that under 66A of the IT Act, sending offensive or menacing messages through electronic communication service and sending false messages to cheat, mislead or deceive people or to cause annoyance to them is punishable. It is obligatory on kemmannu.com to provide the IP address and other details of senders of such comments, to the authority concerned upon request. Hence, sending offensive comments using kemmannu.com will be purely at your own risk, and in no way will Kemmannu.com be held responsible.
Similarly, Kemmannu.com reserves the right to edit / block / delete the messages without notice any content received from readers.
RELATED
Surpur May 1: CM Siddaramaiah said that his aim is to defeat BJP’s Rajugowda. He called to make Congress candidate win in Surpur Assembly and Raichur Lok Sabha constituency with a huge majority.
ಮಣಿಪಾಲ ಇಂಡಸ್ಟ್ರೀಯಲ್ ಏರಿಯಾದಲ್ಲಿ ತಯಾರಿಸಲ್ಪಡುವ ಕಾಂಕ್ರೀಟ್ ಮಿಶ್ರಣದ ಸಾಗಟವು ನಗರ ಹಾಗೂ ಹೊರ ವಲಯಗಳಿಗೆ ಟ್ಯಾಂಕರ್ ಟ್ರಕ್ಕುಗಳ ಮೂಲಕ ನಡೆಯುತ್ತಿರುತ್ತದೆ. ಕಾಂಕ್ರೀಟ್ ಸಾಗಟದ ಟ್ರಕ್ಕುಗಳು ಸಂಚರಿಸುವ ರಸ್ತೆಯ ಉದ್ದಕ್ಕೂ ಕಾಂಕ್ರೇಟನ್ನು ಚೆಲ್ಲುತ್ತ ಸಾಗುತ್ತಿರುತ್ತವೆ.
ಕಾರ್ಪೋರೇಟ್ -ಕೋಮುವಾದ ಮೈತ್ರಿಯಿಂದ ಕಾರ್ಮಿಕರನ್ನು ಬಂಡವಾಳಗಾರರ ಗುಲಾಮರಾಗಿ ಮಾಡಿ ಗುಲಾಮಗಿರಿಗೆ ತಳ್ಳುತ್ತಿದ್ದಾರೆ ಮಾತ್ರವಲ್ಲ ಜಾತಿ ಮತ ಧರ್ಮ ಆಧಾರದಲ್ಲಿ ಕಾರ್ಮಿಕರನ್ನು ಎತ್ತಿ ಕಟ್ಟಿ ಕೋಮುವಾದದ ಅಡಿಯಾಳಾಗಿ ಮಾಡುವ ಬಿಜೆಪಿ ಅಪಾಯಕಾರಿ ನೀತಿಯ ವಿರುದ್ಧ ರೈತರು ಕಾರ್ಮಿಕರು ಕೂಲಿಕಾರರು ನೌಕರರು ಒಂದಾಗಿ ವರ್ಗ ಹೋರಾಟವನ್ನು ತೀವ್ರಗೊಳಿಸ ಬೇಕು ಎಂದು ಸಿಐಟಿಯು
National, 30 April 2024: Manipal Academy of Higher Education (MAHE), Manipal, celebrated the 126th birth anniversary of its founder Dr T.M.A Pai on Tuesday, 30 April 2024. Shri K. V. Kamath, Chairman, National Bank for Financing Infrastructure and Development (NaBFID) & Chairman, Jio Financial Ser
Obituary : Miss Judith Lewis (91), Milagres A Ward, Kallianpur
Rozaricho Gaanch April, 2024 - Ester issue
Final Journey Of Theresa D’Souza (79 years) | LIVE From Kemmannu | Udupi |
Invest Smart and Earn Big!
Creating a World of Peaceful Stay!
For the Future Perfect Life that you Deserve! Contact : Rohan Corporation, Mangalore.
Final Journey Of Joe Victor Lewis (46 years) | LIVE From Kemmannu | Organ Donor | Udupi |
Milagres Cathedral, Kallianpur, Udupi - Parish Bulletin - Feb 2024 Issue
Way Of Cross on Good Friday 2024 | Live From | St. Theresa’s Church, Kemmannu, Udupi | LIVE
Good Friday 2024 | St. Theresa’s Church, Kemmannu | LIVE | Udupi
2 BHK Flat for sale on the 6th floor of Eden Heritage, Santhekatte, Kallianpur, Udupi
Maundy Thursday 2024 | LIVE From St. Theresa’s Church, Kemmannu | Udupi |
Kemmennu for sale 1 BHK 628 sqft, Air Conditioned flat
Symphony98 Releases Soul-Stirring Rendition of Lenten Hymn "Khursa Thain"
Palm Sunday 2024 at St. Theresa’s Church, Kemmannu | LIVE
Final Journey of Patrick Oliveira (83 years) || LIVE From Kemmannu
Carmel School Science Exhibition Day || Kmmannu Channel
Final Journey of Prakash Crasta | LIVE From Kemmannu || Kemmannu Channel
ಪ್ರಗತಿ ಮಹಿಳಾ ಮಹಾ ಸಂಘ | ಸ್ತ್ರೀಯಾಂಚ್ಯಾ ದಿಸಾಚೊ ಸಂಭ್ರಮ್ 2024 || ಸಾಸ್ತಾನ್ ಘಟಕ್
Valentine’s Day Special❤️||Multi-lingual Covers || Symphony98 From Kemmannu
Rozaricho Gaanch December 2023 issue, Mount Rosary Church Santhekatte Kallianpur, Udupi
An Ernest Appeal From Milagres Cathedral, Kallianpur, Diocese of Udupi
Diocese of Udupi - Uzvd Decennial Special Issue
Final Journey Of Canute Pinto (52 years) | LIVE From Mount Rosary Church | Kallianpura | Udupi
Earth Angels Anniversary | Comedy Show 2024 | Live From St. Theresa’s Church | Kemmannu | Udupi
Kemmannu Cricket Match 2024 | LIVE from Kemmannu
Naturya - Taste of Namma Udupi - Order NOW
New Management takes over Bannur Mutton, Santhekatte, Kallianpur. Visit us and feel the difference.
Focus Studio, Near Hotel Kidiyoor, Udupi
Earth Angels - Kemmannu Since 2023
Kemmannu Channel - Ktv Live Stream - To Book - Contact Here
Click here for Kemmannu Knn Facebook Link
Sponsored Albums
Exclusive
An Open ground ‘Way of the Cross’ observed in St. Theres’s Church, Kammannu. [Live-Streamed]
Udupi Bishop Most Rev. Gerald Issac Lobo Celebrates Palm Sunday at Kemmannu Church
The architect of various Churches, Schools, Hospitals and Colleges….. Msgr Denis Jerome D Souza.
Konknani Writers’ Association Literary Award Conferred on Dr. Gerald Pinto
Celebrating Love Across Languages: A Valentine’s Day Special
Udupi: Kemmannu.com Journo Richard D’Souza Felicitated by Paryaya Sri, Sri Sugunendra Tirtha Swamiji.
Let the unity of senior players be an example to the youth - Gautham Shetty - Alfred Crasto Felicitation - Match Livestream.
Bali, Indonesia: Royal Singaraja Award to Mangalorean NRI Philanthropist Dr. Frank Fernandes. [Video]
MTC - Milagres towards Community – An Outreach program on 14th December, 2023
