MUMBAI: A pressure point is building in the world of Indian banks. The outcome will decide how much you get for deposits or pay for loans in the coming days. The interest rate uncertainty has split the bankers’ club into two: Big Daddy State Bank of India (SBI) versus the rest.
While most banks are inclined to cut interest rate on deposits, SBI, country’s largest bank in terms of assets and branches, is in no mood to do so. Having lost market share to aggressive private and foreign banks in the past few years, SBI now wants to regain lost ground at any cost. It is willing to pay a higher rate to mobilise more deposits and increase market share.
Read More
Monday, September 24, 2007
Banks split over rates: SBI Vs the rest
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment