Bank of Maharashtra lowers lending rates by a nominal 5 basis points

In a 4:2 majority vote, RBI had cut the repo rate to 6 per cent from 6.25 citing the need to support growth that has lost momentum of late in the first bi-monthly monetary policy announced on Thursday

A day after the Reserve Bank of India reduced the benchmark repo rate by 25 basis points for the second consecutive time, state-run Bank of Maharashtra on Friday announced a nominal 5 bps reduction in its lending rates across various tenors.
 
In a 4:2 majority vote, the central bank had cut the repo rate to 6 per cent from 6.25 citing the need to support growth that has lost momentum of late in the first bi-monthly monetary policy announced on Thursday.
 
The central bank also lowered its GDP forecast for FY20 to 7.2 from 7.4 percent projected in