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The country’s largest lender – State Bank of India, has increased the base rate and prime lending rate by 10 basis points each, indicating the end of low interest rates.
SBI has revised the prime lending rate to 12.3 per cent from 12.2 per cent and the base rate to 7.55 per cent from 7.45 per cent. The changes are effective December 15. The bank has also increased interest rates on fixed deposits above ₹2 crore.
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