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SBI Cuts Loan Rates By Up to 90 Basis Points

SBI Cuts Loan Rates By Up to 90 Basis Points

Monday, January 2, 2017, 10:06 AM

SBI along with the Union Bank of India and PNB have cut the base lending rate by up to 90 basis points. There has been a massive inflow of deposits into banks after demonetization. Bankers are hopeful that the reduced lending rates, could spur credit growth in the economy. SBI the largest lender in the country, has cut MCLR by 90 basis points.
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