SBI may stick to 8% discounted home loan rate

The country's largest lender State Bank of India (SBI) might continue with eight per cent concessional home loan rate even after September, a top official of the bank said.

The country's largest lender State Bank of India (SBI) might continue with eight per cent concessional home loan rate even after September, a top official of the bank said.

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"An right per cent rate is a viable proposition and there is no reason why it should not continue," the managing director of the bank, S.K. Bhattacharya said here on Monday.

"A decision will be taken at the bank's ALCO meeting next," he told reporters on the sidelines of a Ficci meet here.

On the proposed rights issue, he said that it was likely to hit the market by the end of the current financial year. Government holding in the bank stood at 59.41 per cent.