SBI cuts lending rate by 10 bps for the 5th time this year

SBI ने इस साल 5 वीं बार उधार दर में 10 बीपीएस की कटौती की

Points to Remember:

  • State Bank of India reduced its lending rate by 10 basis points across all tenors, which will come into effect from September 10.
  • This is the fifth reduction in lending rate from SBI in FY 2019-20, coming down to 8.15% from 8.25% after it cut repo rates by 1.1% last week.
  • Other banks are likely to follow SBI’s lead.

About SBI:

  • The State Bank of India is an Indian multinational, public sector banking and financial services statutory body.
  • It is a government corporation statutory body headquartered in Mumbai, Maharashtra.
  • SBI is ranked as 216th in the Fortune Global 500 list of the world’s biggest corporations of 2018.
  • Chairperson: Rajnish Kumar
  • Headquarters: Mumbai
  • Subsidiaries: SBI Cards, SBI Life Insurance Company, Jet Airways, etc.
Important Possible questions based on above News:
  1. Name the majority Stock holder of Jet Airways? SBI
  2. Who is the incumbent chairman of SBI? Rajnish Kumar

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