 "RBI may pause this time, but rate cut likely in Dec")
A day after country’s largest lender-State Bank of India revised it benchmark lending rate, several other lenders have followed suit. Several banks including Dena Bank, Kotak Mahindra Bank among others have slashed their rates today and many other lenders are expected to follow suit.
This reduction in lending rate follows the pile up in deposits that the banks have witnessed post demonetisation. As per the RBI data, Rs 12.4 lakh crore have been deposited with banks till December 10.
ICICI Bank, country’s largest private sector lender, has reduced its MCLR by 0.7% across different maturities. The bank has revised
ICICI Bank, country’s largest private sector lender, has reduced its MCLR by 0.7% across different maturities. The bank has revised
