State Bank of India, the country's biggest lender, could ease lending rates even before the RBI cuts rates, its Chief Financial Officer Diwakar Gupta said.
The Reserve Bank of India cut cash reserve requirements for banks by 50 basis points last week, signaling a policy shift towards reviving growth after nearly two years of fighting inflation.
It had raised rates 13 times between March 2010 and October 2011, slowing demand for credit in Asia's third-largest economy.
Indian banks are expected to reduce rates for segments that are seeing higher demand for credit and lower level of defaults, but have not set any timeframe.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app