SBI cuts base rate by 15 basis points, with effect from April 1

The largest public lender State Bank of India has reportedly cut its base rate by 15 basis points to 9.10%, which earlier stood at 9.25%, with effect from April 1, 2017. However, the marginal cost-based lending rate of the SBI remains unchanged. The six-month MCLR rate is at 7.95%, while the three-year rate stands at 8.15%.

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