SBI reduces base rates by 30bps


State Bank of India has reduced base rates by 30bps to bring new year cheer to customers.

With effect from January 1, 2018, the revised base rate is 8.65% (8.95 per cent earlier) for existing customers and Benchmark Prime Lending Rate is 13.40% (13.70 per cent).

The stock was down by 1.5% at Rs.302.

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Yash Ved
Yash Ved is a Senior Correspondent at NewsBarons and comes with a decade of experience across leading online and offline publications. A keen observer of the stock index movement, Yash also likes covering Real Estate and the BFSI sector. A financial management and Journalism student, Yash believes learning as a continuous journey and enjoys following the IT and the Pharmaceutical industry and has penned many articles on the subjects.