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.

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