- SBI to move RBI to offer fixed-floating rate home-loans: Chairman Rajnish Kumar
- What banks may now charge you for a loan
- External benchmarks may not bring down loan rates
- New loan rate regime slashes borrowers' homework
- Link loans to benchmarks: RBI to banks
- Repo-linked home loan rates can be volatile
- SBI links home loan interest rates to repo rate: Will borrowers gain?
- IDBI Bank launches repo-linked home, auto loans at interest rates starting from 8.30% per annum
Hours after RBI call, Axis Bank says linking loans to repo rate is not the only way for faster transmission
It can be noted that till the last rate cut of 0.35 percent, the banks have passed out only 0.29 percent of the 0.75 percent in rate cuts initiated by the RBI to the final borrowers.
SBI has lowered MCLR by 30 basis points since February while RBI reduced policy rate by 110 bps.
Rates on big savings accounts and some short-term loans will change with change in repo rate.
Addressing the media, Sitharaman also said that banks will pass on RBI rate cut benefits to borrowers through MCLR reduction.