Savers as important as borrowers: Uday Kotak on SBI rate cut
Days after India's biggest lender SBI slashed its savings account interest rate by 0.5%, India's richest banker, Uday Kotak tweeted, "Borrowers matter so do savers". Uday Kotak further said that the bank will continue offering 5% per annum interest rate for deposits of up to â¹1 lakh and 6% for deposits over â¹1 lakh and up to â¹1 crore.