After the rise in deposits post demonetization, the State Bank of India said on Sunday that it has cut its lending rates by 90 basis points for maturities ranging from overnight to three-years. State Bank of Travancore had also cut its rates on Friday. The marginal cost of funds-based lending rate (MCLR) at SBI has fallen to 7.75 percent from 8.65 percent, while three-year loan rates will now be 8.15 percent from 9.05 percent previously. This will bring down the cost of auto and home loans substantially. 

Not pretty numbers: Bajaj Auto released its sales figures for the month of December 2016, which have fallen across the board compared to the previous year. Domestic commercial vehicle and motorcycle sales are down 44% and 11% respectively; exports are down 49% and 24% for these segments. 

Stock in spotlight: Intense Technologies Ltd, which has hit a new 52 week high today. 

Photo of the day: A man lights firecrackers in Mumbai during the New Year's Eve celebrations. Rafiq Maqbool/AP