Allahabad Bank to link large savings deposit to repo rate

Bankers have long argued that it is not viable to price loans using external benchmarks unless deposits are also linked to such benchmarks. State Bank of India (SBI) was the first to link savings accounts with balances of over Rs 1 lakh to the repo rate in May.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2IcnZcf