SBI cuts benchmark lending rate by 15 bps, introduces special deposit scheme for senior citizens
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The country’s largest lender State Bank of India on Thursday slashed benchmark lending rate by 0.15 basis points, and introduced special deposit scheme for senior citizens with higher interest rate. To safeguard the interests of senior citizens in the current falling rate regime, the bank has introduced a new product ''SBI Wecare Deposit'' for them in the retail term deposit segment, SBI said in a statement.