Latest Current Affairs February 2018

SBI Reduces Base Rate and benchmark prime lending rates by 30 bps.

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Sbi revised base rate and reduced by 30 bps.
The State Bank of India reduced the base rate and benchmark prime lending rates by 30 basis points each.
sbi revised down base rate from 8.95 to 8.65 percent,
while the benchmark prime lending rates are down from 13.7 percent to 13.4 percent. The one-year MCLR of the bank stands unchanged at 7.95 percent.

Major Key Facts:
1. SBI Chairman- Rajnish Kumar
2. Headquarters- Mumbai
3. MCLR – Marginal Cost of funds based Lending Rate. Frank Gore Jersey

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