The largest lender of the country State Bank of India has announced that it does not have any intentions of increasing the deposit rates in near future.
After the announcement of hike in the key lending rates by The Reserve Bank of India after the meeting on 25th January, most of the banks have announced a hike in their deposit rates and a few other banks are soon going to increase their deposit rates.
Previously, State Bank of India raised their deposit rates thrice in past six months but for now it does not have any plans for the same.
Earlier the Reserve Bank of India expressed it concerns on the increasing gap between the loan and the deposits amounts.
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