Thu, Nov 30, 2017 | Updated 11.53AM IST
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Sensing an arbitrage opportunity in the repo market, the country’s largest lender State Bank of India raised interest rate on bulk deposits of over Rs 1 crore by one per cent, effective November 30. Significantly, the move to revise rates comes soon after the government announced the repurchase of its securities worth Rs 30,000 crore through reverse repo auction.
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