Country’s largest lender State Bank of India (SBI) has announced the reduction in its MCLR by 10bps across all tenors. The 1 Year MCLR would come down to 8.15% p.a from 8.25% p.a. with effect from September 10, 2019. This is the fifth consecutive cut in MCLR in FY19-20.
In view of the falling interest rate scenario and surplus liquidity, SBI also realigns its interest rate on term deposits (TD) w.e.f. September 10. Bank slashes retail TD rates by 20-25 bps and bulk TD rates by 10-20 bps across tenors.
Stock view:
State Bank of India is currently trading at Rs275.30, up by Rs1.35 or 0.49% from its previous closing of Rs273.95 on the BSE.
The scrip opened at Rs274 and has touched a high and low of Rs275.75 and Rs271.50 respectively.
إرسال تعليق