With the Reserve Bank of India (RBI) making it mandatory for banks to introduce products linked to external benchmarks — the repo rate, three-month Treasury bill, six-month Treasury bill or any rate published by the Financial Benchmark India (FBIL) — from October 1, the country’s largest bank, State Bank of India (SBI), has already introduced the first repo rate-linked home loan product.
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First Published: Mon, September 16 2019. 23:42 IST