Why SBI Cut Its Fixed Deposit Rates

SBI or State Bank of India, the country's largest bank, cut its term deposit rates in select maturities from April 29, 2017. The government's move in November last year to withdraw Rs 500 and Rs 1,000 bank notes from the financial system led to a "huge inflow of current account and savings bank deposits", State Bank of India (SBI) chief financial officer Anshula Kant told NDTV Profit, while explaining the rationale behind her bank's ...