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To: Mohan Marette who wrote (131)2/14/2000 8:46:00 AM
From: Mohan Marette  Respond to of 494
 
Indian Hot Stk: State Bank +3.8% On Deposit Rate Cut

Monday, February 14 5:40 PM SGT

BOMBAY (Dow Jones)--Shares of State Bank Of India (P.SBI) are up 3.8% Monday afternoon on mutual fund buying after the bank reduced its interest rates on deposits above one year.

The bank's announcement Monday that it will cut deposit rates follows the government's decision Jan. 14 to lower its rates for the Public Provident Plan, its popular savings plan.

At 0925 GMT (4:25 a.m. EST), State Bank shares were up 9.40 rupees ($1=INR43.62) at INR257.00.