Question
Recently State Bank of India (SBI) offered which of the
following unique term deposit program to honor India’s 76th independence anniversary, Azadi Ka Amrit Mahotsav?Solution
The State Bank of India (SBI) offered an “Utsav Deposit” in honor of India’s 76th independence anniversary, Azadi Ka Amrit Mahotsav. The State Bank of India has introduced a unique term deposit program. The plan is valid beginning August 15, 2022, for a duration of 75 days. Under this scheme, there will be an interest rate of 6.10 percent per year on fixed deposits with a term of 1000 days. The scheme has an expiry date, which will last 75 days. But senior citizens of a particular age group will get 50% more in interest benefits than the usual accounts.
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