SBI Cuts Interest Rates to 7.75% After RBI Move

 


India’s largest public sector bank, the State Bank of India (SBI), has reduced its lending rates by up to 50 basis points, bringing them down to 7.75%. The move comes in response to the Reserve Bank of India’s recent rate cut aimed at boosting economic growth. 

This rate reduction is expected to make loans cheaper for borrowers across sectors and could stimulate demand in housing, auto, and small business lending. SBI’s move sets the tone for other banks to follow suit in aligning with the RBI’s monetary policy easing.

Comments

Post a Comment

Popular posts from this blog

UAE Mediation Efforts Succeed with New Exchange of 350 Captives Between Russia and Ukraine

Image
  The United Arab Emirates (UAE) has successfully facilitated the exchange of 350 prisoners of war between Russia and Ukraine as part of its ongoing mediation efforts to ease tensions in Eastern Europe. On Wednesday, both nations exchanged 175 Ukrainians and 175 Russians who had been captured amid the war that began in February 2022. This latest exchange brings the total number of prisoners swapped through UAE mediation to 3,233. The UAE Ministry of Foreign Affairs praised Russia and Ukraine for their cooperation and reaffirmed Abu Dhabi’s dedication to fostering peace. This marks the 13th successful mediation effort led by the UAE since 2024, highlighting its role as a trusted diplomatic partner in conflict resolution.
Read more

India's Ascent: A Future Giant in Consumer Markets

Image
  India, a land of vibrant culture and rich diversity, is poised to emerge as a powerhouse in the global consumer market. With projections indicating that it will surpass Germany and Japan to claim the third position by 2026, the country’s trajectory is nothing short of remarkable. The driving force behind India’s ascent lies in its demographic dividend. With a youthful population comprising a significant portion of its nearly 1.4 billion people, India boasts a burgeoning middle class with increasing purchasing power. This demographic dividend is fueling consumption across various sectors, from automobiles to electronics, from fashion to food products. Urbanization further amplifies India’s potential as a consumer market. Rapid urban growth is transforming the landscape, creating a plethora of opportunities for businesses to cater to the evolving needs and preferences of urban dwellers. As cities expand and infrastructural development accelerates, access to goods and services becom...
Read more

Prayagraj Mahakumbh 2025: The Rise of the World’s Largest Tent City

Image
  In an extraordinary display of logistical prowess and cultural significance, the world’s largest tent city is taking shape in Prayagraj, Uttar Pradesh, ahead of the much-anticipated Prayagraj Mahakumbh 2025. This grand event is poised to host an estimated 400 million pilgrims, making it one of the largest religious gatherings in the world. The Prayagraj Mahakumbh, a Hindu festival held every 12 years, holds immense spiritual significance for millions of devotees who converge at the confluence of the Ganges, Yamuna, and mythical Saraswati rivers to cleanse their sins and attain spiritual enlightenment. The scale of this event is unparalleled, drawing people from all corners of India and beyond. The sprawling tent city is a marvel of organization and infrastructure. It spans across acres of land, providing temporary accommodation, amenities, and facilities to millions of pilgrims. From basic shelters to more elaborate accommodations, the tent city caters to a diverse range of needs...
Read more