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SBI Plans to Lower Lending Rates
Posted on: 10/Dec/2014 1:04:04 PM
SBI has planned to reduce the lending rates if there is considerable increase in their credit growth. SBI Chairman Arundhathi Bhattacharya reported that the decision of reducing lending rates would not depend on RBI’s rate cut. She further expressed that repo rate reduction of 25 to 50 basis point of RBI will not affect the cost of funds of SBI. If there is any clear indication about the increase in their credit growth, it would have a profound effect on their lending rates.
Recently, SBI has cut down its retail deposit rates by 0.25 percent for maturities over one year. However, credit rate growth of SBI is the deciding factor for reducing lending rates.
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