The first domestic bank to link the interest rate it offers on savings – InterviewSolution

InterviewSolution

1.	The first domestic bank to link the interest rate it offers on savings account deposits to the Reserve Bank of India's repo rate.
Answer» State Bank of India has become the first domestic bank to link the interest rate it offers on savings account deposits to an external benchmark - the Reserve Bank of India's repo rate. By doing so, the bank will effectively link all loan rates to an external benchmark either directly or indirectly, thereby attempting to speed up the transmission of any changes in the benchmark monetary policy rate to depositors and borrowers.

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