SBI launches 444-day deposit scheme with 7.25% interest

State Bank of India (SBI) has introduced a new 444-day deposit scheme with 7.25% interest, 15 basis points higher than the prevailing rate. The bank's higher rate comes after raising the benchmark marginal cost of fund-based lending rate by 5 to 10 basis points. The Reserve Bank of India warns banks of possible systemic risk due to persistent credit growth outpacing deposit growth.