The State Bank of India (SBI) is the first bank to announce linking of its interest rates on deposits and loans to an external benchmark from May 1, 2019.
The move implies that whenever the Reserve Bank of India (RBI) announces a change in the repo rate, it will automatically reset SBI's interest rates.
Sakshi Batra does a 3 point analysis of the reasons behind SBI's move and will that prompt other lenders to follow suit.
Watch the video for more
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
