SBI slashes lending rates between 0.5-3.5% ahead of RBI policy review meet

The country's largest public sector lender, State Bank of India (SBI) has announced cut in lending rates between 0.5-3.5 per cent mainly for the small and medium enterprises and the agriculture sector.

The moves comes just hours before the much awaited RBI monetary policy review on Monday where the experts have been speculating the central bank to ease the liquidity to arrest the falling growth.

The bank has kept the home loan and retail loan rates unchanged and also base rate has not been touched at 10 per cent.

With inflation at over 7.5 per cent, the Reserve Bank of India has very little room to ease the rates, but experts have said that the slowing industrial growth and recent exports data may force the central bank to ease the borrowing.

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