Tag: State Bank of India

NEW DELHI: The Centre's "just-in-time" mechanism to release money for government agencies, including at the state level, has forced banks to rework their fund-raising strategy as they have lost out on low-cost current and savings account float.Worst hit are public sector banks such as State Bank of India, which have now activated the SME and trade segments to raise more current account deposits to make up for the gap. "For the last few months, we have been reaching out to trade and industry and offering them cash management...