A total of 22,448 shares changed hands on the counter till 10:32AM (IST)
A total of 60,940 shares changed hands on the counter till 10:18AM (IST).
Shares of State Bank of India traded 1.82 per cent up in trade at 09:42AM on Wednesday.
The private sector lender has cut interest rate on all deposits of less than Rs 50 lakh to 3 per cent, a reduction of by 25 bps as against the existing 3.25 per cent.
So far, the rupee has been stable against the dollar, he said at the CII Annual session.
India's sovereign rating was downgraded by Moody's to Baa3 with a negative outlook on the pretext of prolonged period of slower growth, rising debt and stress in financial system. Apart from sovereign rating downgrade, Moody's has taken rating actions on 11 Indian banks.
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Amid the COVID-19 pandemic, SBI has been at the forefront in providing relief measures to existing SME borrowers.
The Nifty PSU Bank index was trading 0.65 per cent up at 1223.3.
SBI Cards and Payments Services has said that customers continued using their credit cards during lockdown and due to the unique nature of business the average daily spends were in upwards of Rs 175 crore during May.
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