[INDIAN ECONOMIC NEWS] Good morning, everyone. I’m Kim suhyeon staff of Kamagroup Pvt. Ltd. Here I have an important Indian economic news to share with you which is as undermentioned.
MUMBAI: Within a day of RBI reducing repo rate by 25 basis points, the country's largest lender State Bank of India Friday announced a cut in interest rates by 5 basis points on its home loans up to Rs 30 lakh.
In it sixth bi-monthly monetary policy review announced Thursday, RBI had cut the repo rate by 25 basis points to 6.25 percent.
"On the back of the monetary policy announced by the RBI, we have taken the lead to cut interest rates on home loans up to Rs 30 lakh," the bank's chairman, Rajnish Kumar, said in a statement.
The new rates are effective fr om Friday.
Read more at: https://economictimes.indiatimes.com/personal-finance/state-bank-of-india-reduces-home-loan-interest-rate-by-5-basis-points/articleshow/67904258.cms
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