Bank of Baroda cuts repo-linked rates by 10 bps
The cut is expected to impact all categories of loans offered by the bank.
The cut is expected to impact all categories of loans offered by the bank.
HDFC reduces its Retail Prime Lending Rate (RPLR) on housing loans.
All new retail loans (housing, education, vehicle), credit to MSMEs are linked to RLLR now.
The move comes amid similar steps taken by the peers after two rate cuts by the Reserve Bank of India (RBI) in order to help the economic growth.
The latest cuts come after RBI, last week, had reduced repo rate by 40 basis points to 4 per cent from 4.40 per cent.
The city-based bank did not mention any changes to the deposit rates.
The RBI Governor Shaktikanta Das announced that the Monetary Policy Committee of the central bank voted with to reduce the key-repo-rate to 4 per cent from 4.40 per cent.
Typically, in a home loan, a bank offers MCLR with a reset period of six month or one year.
Subdued inflation and demand prompted India's central bank, the RBI, on Wednesday to reduce its key lending rate by 25 basis points…
Bandhan Bank on Monday cut its Marginal Cost of funds Based Lending Rate or MCLR by 148 basis points to…
