Friday, 7 April 2017

More scope for banks to cut lending rates: Urjit Patel

The Reserve Bank said there is more scope for the banks to cut lending rates and also asked for a downward revision in the small savings rates administered by the government, reported PTI. "The Monetary Policy Committee took note of the reduction in bank lending rates but saw further scope in a complete reduction, including for small savings and administered rates," Governor Urjit Patel told reporters.

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