News Live: SBI increases interest rates on fixed deposits less than 1 crore

Just two days before the Reserve Bank of India's (RBI) bi-monthly monetary policy review, the country's largest lender, State Bank of India (SBI) announced a hike in its fixed deposit (FD) rates. It has raised interest rates of FDs below Rs 1 crore for select tenors from 0.05 to 0.10 per cent. These rates will be effective from July 30.