State Bank of India (SBI) has increased its bulk deposit rates by 50-140 bps, effective from today.

The bank has also scheduled a meeting of board of directors, which is to be held on February 9,2018, for approving the unaudited quarterly/nine months financial results of the bank for the quarter/nine months ended December 31,2017.

Further, PK Gupta, MD of SBI stated that, the bank has lined up bulk deposit rates with the retail deposit rates and the increase in bulk deposit rates will not impact cost of funds in significant manner.

Read EquityPandit’s Technical Analysis on SBI Outlook for the Week