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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
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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.

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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.

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