Bank of India is also considering reduction in State Bank rate 


Bank of India has said it is considering reducing the Savings Bank account rate on the lines of State Bank of India and also the interest rate on deposits. “A cut on both the SB rate and interest on deposits are on the cards. Savings Bank account rate cut may not happen immediately but it is under consideration,” Bank of India Executive Director R S Sankaranarayanan, told reporters here.  With Rs 88 crore profit in the first quarter of this fiscal, the Bank expected to do good business this year, he said. Sankaranarayanan, who was here to take part in an Exporters’ Meet last…

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