SBI cuts lending rates following RBI repo rate reduction
pre-market1 source ↓written by the desknot a recommendation
- repo rate
- 25 basis points
The State Bank of India (SBI) has lowered its lending rates after the Reserve Bank of India (RBI) cut the repo rate by 25 basis points. This adjustment aims to make loans more affordable, benefiting both existing and new borrowers. Lower rates are expected to stimulate borrowing and investment in the economy. 📉
Key lending benchmarks, including the MCLR, have been revised, which will reduce EMIs for home loans, personal loans, and auto loans. This move reflects SBI's position as the largest public sector bank in India, responding to changes in the borrowing cost for banks.
Not investment advice. For informational purposes only.