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Business

In a first, SBI links pricing of loans, deposits to repo rate

Updated : March 08, 2019 09:32 PM IST

The new rates will be effective May 1, the bank said in a late evening statement.
The move will not benefit all its depositors as the new rate is applicable only to those with a balance of over Rs 1 lakh in their accounts.
The repo rate is currently at 6.25 per cent after the February 7 review where the central bank surprisingly lowered the repo rate by 25 bps.
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