Mumbai: The State Bank of India (SBI) on Wednesday cut its base rate, the minimum interest rate at which it lends, by 25 basis points to 9.75 percent with effect from Thursday, it said in a statement.

The decision came a day after the Indian central bank cut the cash reserve ratio, the share of deposits banks must keep with it, by 25 basis points to 4.5 percent.

Earlier this month, SBI had cut deposit rates between 50-100 basis points across maturities.


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