SBI hikes bulk deposit rates by 50-140 bps

Country's largest lender State Bank of India (SBI) has hiked bulk deposit rates by 50-140 basis points effective today. "We have aligned bulk deposit rates with retail deposit rates and the hike will not impact the cost of funds in a significant manner," PK Gupta, MD of SBI said in an interview to CNBC-TV18.

CNBC-TV18

January 30, 2018 / 14:42 IST

Country's largest lender State Bank of India (SBI) has hiked bulk deposit rates by 50-140 basis points effective today.

"We have aligned bulk deposit rates with retail deposit rates and the hike will not impact the cost of funds in a significant manner," PK Gupta, MD of SBI said in an interview to CNBC-TV18.

He further said there was enough liquidity in the market but surplus liquidity is not there.

Overall liquidity number is negative of Rs 10,000-15,000 crore, he added.

Gupta said corporate demand has still not picked up and credit growth is seen only in the retail segment.

Bank's term deposit rates are significantly lower to industry rates, he added.

For full interview, watch accompanying video...

CNBC-TV18

first published: Jan 30, 2018 02:42 pm

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