India's largest bank SBI recently announced a reduction in the interest rate on Fixed Deposit (FD). The bank has cut the retail segment by 0.10-0.50% on term deposits. The new interest rates have come into effect from Monday, following the cuts announced by the bank. Apart from this, SBI had said in a statement about the cut in interest rates, "In view of the excess cash in the system, the interest rates of SBI Retail Term Deposit (up to 2 crore rupees) and bulk term deposit (more than two crore rupees) is making changes.

Private trains will run across the country, apart from Tata-Adani, foreign companies can also serve

These changes will be effective from February 10, 2020. "The Reserve Bank of India (RBI) Monetary Policy Committee (MPC) recently decided to keep the repo rate unchanged at 5.15%. SBI has cut FD rates for all periods except for a period of 7 to 45 days. SBI had announced a steep reduction of 0.50% in the interest rate on FDs of 46 to 179 days. Now the bank will pay interest at the rate of five percent on the deposits of this period.

Petrol and diesel price fallen significantly in a month, Know today's rates

After the recent revision, you will get interest at the rate of 5.50% on the deposit amount of 180 days to one year. The bank has reduced the deposit amount by 0.30% during this period. The interest on the deposit that matures in the period from one year to 10 years has been reduced by 0.10% to 6%.

India's economy is getting stronger, India will achieve eight percent growth rate