SBI Chief Hints At Further Cut In Interest Rates

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New Delhi, December 4:: A month after the Bank Rate cut by the RBI and the reduction in lending rates by banks, State Bank of India (SBI) on Wednesday hinted at the possibility of further reduction in interest rates. "Interest rates will continue to be stable with a little downward bias," SBI chairman AK Purwar said replying to a query at an International Banking Summit here. The statement assumes importance in the wake of reduction in lending and deposit rates by most of the banks after the benchmark Bank Rate was reduced by 0.25 per cent to 6.25 per cent in the October busy season Credit Policy of Reserve Bank.

...To Invest Rs 500 Cr For New Projects

New Delhi, December 4: SBI will invest Rs 500-600 crore for interconnecting about 3,000 branches in the next two years, set up a Disaster Recovery Management centre and even target to bridge the digital divide to take technology banking to rural India. SBI chairman AK Purwar also said that the bank was planning to convert its branches into "Financial super-markets" which would offer all types of financial products along with... More from ‘Detariffing will increase insurance penetration’ Targeting inflation right Trillion dollar question: How to tackle rising Re Strategies to set up OBUs and IFSCs in SEZs ‘No more extra discounts unless specified’ Destination HK: PSBs to slug it out in ‘07 ‘We will double our balance sheet in 5 yrs’ CRR hike: Will it check consumer demand? Single Page Format 1 - 2 - Next Discuss this story on expressindia forums Post Comments Comments: (Limit 3,000 characters) Name Message Email ID Subject TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s). I agree to the terms of use. Comments Most Read Most Read Most Emailed Most Emailed   Satyam tanks 13 pct as CBI doubles scam loss NTPC’s Rs 18k-cr Bundelkhand plant to come up in six years Retail bets big on expansion NIIT Franchisees On War Path, But Run Into Legal Restraint More Investors empowered with power-of-attorney More Flowers & Cakes DeliveryExpress Classifieds Post and view free classifieds adExpress Astrology Know what's in the stars for you Home Print Edition Latest News Stocks epapersArchives Subscribe Company Info FinancialExpress web   About Us | Contact Us | Advertisers | Site Map | Make us your homepage | Work for Us | RSS | Subscribe | Electronic Edition | Privacy Policy © 2009: The Indian Express Limited. All rights reserved throughout the world