SBI reduces MCLR and interest rates on time deposits across all maturities

State Bank of India (SBI) on Monday reduced the MCLR and interest rates on time deposits across all maturities.

New Delhi: State Bank of India (SBI) on Monday reduced the MCLR and interest rates on time deposits across all maturities.

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The state-run lender, which is the country's largest bank, announced a reduction in the MCLR by 10 basis points (BPS), effective September 10.

SBI also cut retail term-deposit rates by 20-25 bps and cut bulk term-deposit rates by 10-20 bps, according to ET Now. (With ANI Inputs)